Debevoise Advises AIG in Sale of $750 Million Stake in PICC

11 December 2015

The Hong Kong office of Debevoise & Plimpton is advising American International Group (“AIG”) in the sale of a $750 Million stake in PICC Property and Casualty Co Ltd (“PICC Property and Casualty”) to institutional investors. The transaction is being undertaken via a block trade in Hong Kong.

AIG is a leading global insurance organization serving customers in more than 100 countries and jurisdictions. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.

PICC Property and Casualty is China’s biggest non-life insurer.

Debevoise previously advised AIG in a similar deal in March, which saw the insurer sell a $500 million stake in PICC Property and Casualty.

The Debevoise team advising AIG is led by Hong Kong partner E. Drew Dutton, and includes partner James C. Scoville, and associates Danielle de Zorzi and Fengjian Ao.

Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.