(Reuters) -- American International Group Inc. is near a deal to sell its Japanese headquarters for about $1 billion in what would be one of its largest asset sales since a September rescue, a source familiar with the matter said Monday.
A Japanese insurance company is expected to buy the prized building in the Otemachi section of Tokyo, although at least two parties were looking at the property, the source said.
A deal for the building, which overlooks the Imperial Palace, is expected to be announced later this week, the source said.
AIG (AIG, Fortune 500) declined to comment on the news, which was first reported by the Wall Street Journal. The source did not want to be identified because the deal has not been announced yet.
The price for the building is in line with what was expected when it was put on the market in February.
Merrill Lynch (MWL) is running the auction for the Tokyo building.
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Monday, May 4, 2009
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