CV STARR COMPLETES FIRST STAGE OF TENDER OFFER

CV Starr, the global investment company headed by former AIG chief Maurice Greenberg, has completed the first stage of its tender offer to purchase shares of its outstanding common and preferred stock. At the December 30 closing, some 11m shares, or 34.8%, of voting common stock and 5,750 shares, or 78.3%, of non-voting common stock were tendered. The offer called for shareholders who tendered common shares also to tender their entire holdings of preferred shares. CV Starr made the offer to all persons “not a director, officer, employee or otherwise employed by, or in a consulting relationship with, CV Starr or any subsidiary”, the filing said. Holders are thought to include many AIG senior executives. CV Starr has commenced a second offering period that closes on January 17.