American International Group, Inc. (AIG) today announced that it has closed the sale of its consumer finance operations in Mexico, consisting of AIG Universal, S.A. de C.V., SOFOM E.N.R. and Markcenter Services, S. de R.L. de C.V, to Desarrollo de Negocios Integrados, S.A. de C.V. and Inversiones DNI, S.A. de C.V., companies related to Afirme Grupo Financiero and Consorcio Villacero.
Terms of the transaction were not disclosed.
“This sale continues the momentum of AIG’s restructuring efforts,” said Alain Karaoglan, Senior Vice President – Divestiture. “We are pleased with the progress that we are making with the disposition of our global consumer finance businesses.”
Launched in 2005, AIG Universal has a network of 50 branches serving approximately 50,000 clients in twelve states in the central and northern regions of Mexico, and offers its clients personal loans and third party insurance.
UBS Investment Bank acted as financial advisor to AIG on this transaction.
Related
AIG announced that it has agreed to sell 100 percent of its ownership interests in Inversora Pichincha S.A. and Interdinco S.A., which comprise AIG’s consumer finance operations in Colombia, to Banco Pichincha C.A. of Ecuador and other parties. Terms of the transaction were not disclosed. The transaction is subject to…
Jul 9, 2009
In "’s consumer finance operations"
American International Group, Inc. (AIG) today announced that it has completed the sale of a majority of the U.S. life insurance premium finance business of AIG Credit Corp. and A.I. Credit Consumer Discount Company (A.I. Credit) to First Insurance Funding Corp. (FIFC), a subsidiary of Wintrust Financial Corporation of Lake…
Jul 29, 2009
In "A.I Credit"
US insurance giant American International Group (AIG) and a Hong Kong consortium said Monday they had agreed to extend the deadline for a deal involving AIG's Taiwan subsidiary. Hong Kong-based China Strategic Holdings and Primus Financial Holdings in October agreed to acquire AIG's Taiwan unit Nan Shan Life for 2.15…
Jun 21, 2010
In "AIG"
Comments
comments
