AIG to sell stake in Fortitude Re for $1.8 billion

(Reuters) - U.S. insurer American International Group Inc said on Monday it would sell a 76.6% stake in reinsurance company Fortitude Re to buyout fund Carlyle Group and Japan's T&D Holdings for about $1.8 billion (£1.40 billion).Following the deal, Carlyle and its fund investors will own 71.5% of Fortitude Re, while T&D will have a 25% stake. AIG will hold a 3.5% stake in the company.