AIG Weighs Selling Consumer Finance Unit

US insurance giant AIG (NYSE:AIG) is mulling over the potential sale of its American General Finance consumer finance unit, the Financial Times reported yesterday, citing people in the know.

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According to the paper, Bank of America Merrill Lynch will advise the insurer on restructuring and selling the unit, which no longer belongs to AIG’s core business.

The parties declined to comment.

Country: USA;

Sector: Banking/Financial Services

Target: American General Finance consumer finance unit

Vendor: American International Group Inc

Type: Divestment

Status: Auction

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