Blackstone to acquire stake in AIG's Life & Retirement in $2.2B deal

  • Blackstone (NYSE:BX) agrees to acquire a 9.9% equity stake in American International Group 's (NYSE: AIG ) Life & Retirement business for $2.2B in cash.
  • AIG also agrees to enter into a long-term strategic asset management relationship with Blackstone to manage an initial $50B of Life & Retirement's existing investment portfolio upon closing of the equity investment, with that amount increasing to $92.5B over the next six years.
  • Once the transaction closes, Blackstone's president and chief operating officer, Jon Gray, will join AIG 's Life & Retirement board.
  • Separately, AIG and Blackstone Real Estate Income Trust, a long-term perpetual capital vehicle affiliated with Blackstone, reached an agreement for BREIT to acquire AIG 's interests in a U.S. affordable housing portfolio for ~$5.1B in an all-cash transaction.
  • In May, AIG reiterated its plans to spin off almost 20% of its Life & Retirement unit through an IPO.

    For this year the company, located in New York City revenue will be around 8.95 billion USD. This is according to the average of the analysts' estimates. This is quite more than 2021's revenue of 6.1 billion USD.

    Historical revenues and results Blackstone Group Inc plus estimates 2021

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    The analysts expect for 2021 a net profit of 4.71 billion USD. According to most of the analysts the company will have a profit per share for this book year of 3.78 USD. Based on this the price/earnings-ratio is 30.49.

    Analysts expect a dividend of 3.2 USD per share. The dividend yield is then 2.78 percent. The average dividend yield of the health care companies is a limited 1.45 percent.

    Based on the current number of outstanding shares Blackstone Group Inc 's market capitalization 77.36 billion USD. 125

    Historical stock prices Blackstone Group Inc past 10 years

    fundamental research blackstonegroupinc

    On Friday the stock closed at 115.27 USD.

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