Part of Continuing Effort To Reduce Investment Portfolio And Risk
NEW YORK--Mar. 18, 2009--
AIG Financial Products Corp. (AIGFP), an AIG company (AIG), reported
today that it has closed the sale of its interests in three operating
Spanish solar photovoltaic plants from its energy and infrastructure
book. The plants have a combined capacity of 35.4MWp and an enterprise
value of approximately €300 million. HG Capital, a London based private
equity firm focused on renewable energy, acquired AIGFP’s interests for
an undisclosed sum.
“This sale continues AIGFP’s ongoing program of investment portfolio
dispositions, further reducing its overall risk profile,” said Gerry
Pasciucco, AIGFP Chief Operating Officer. As previously disclosed, AIGFP
began the process of unwinding its businesses and portfolios late last
Terms of the transaction were not disclosed.
American International Group, Inc. ("AIG"), a world leader in insurance
and financial services, is the leading international insurance
organization with operations in more than 130 countries and
jurisdictions. AIG companies serve commercial, institutional and
individual customers through the most extensive worldwide
property-casualty and life insurance networks of any insurer. In
addition, AIG companies are leading providers of retirement services,
financial services and asset management around the world. AIG's common
stock is listed on the New York Stock Exchange, as well as the stock
exchanges in Ireland and Tokyo.
Source: American International Group, Inc.
American International Group, Inc.
Mark Herr, 212-770-3505