February 2011
Deals of the year 2010: MetLife’s acquisition of Alico
| MetLife’s acquisition of Alico |
| Size: |
$16.2 billion |
| Completion date: |
November 1 |
| Adviser to MetLife: |
Credit Suisse |
| Adviser to Alico: |
Goldman Sachs, Citigroup |
| Adviser to AIG: |
Blackstone |
| Adviser to US Federal Reserve: |
Morgan Stanley | |
In 2010, Platter would find himself again living through one of the key transactions in the aftermath of AIG’s bailout through which the US government sought to recover some of the billions expended to save the US insurance company and the financial system: the $16.2 billion sale of AIG’s international subsidiary American Life Insurance Co (Alico) to MetLife.
As on the sale of the much larger AIA (see Asia deals of the year section), so too with Alico, AIG pursued a twin-track approach. It would sell the companies in whatever way realized the best value, either through an M&A disposal to a trade or financial buyer, or though an IPO...
