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.
