AIG May Sell Japanese Units to Prudential Financial for $5 Billion

American International Group (AIG) may sell two Japanese life-insurance units to Prudential Financial Inc. (PRU) for a total of as much as $5 billion, The Wall Street Journal said.

The agreement is currently "a few days away" from being ready, The Wall Street Journal said without naming its sources.

The sale would help AIG repay some of the more than $90 billion it owes the U.S. government. The company has been working to raise money through its Asian units, with a forthcoming IPO of its Asian life insurance unit AIA and a failed attempt to sell its Taiwanese life-insurance unit.

New Jersey-based Prudential, which is not connected to British insurer Prudential PLC, has long been clear that it wants to expand its operations in Japan, The Wall Street Journal said.

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