NEW YORK--Jun. 24, 2009--
American International Group, Inc. (AIG) today announced that it has
entered into an agreement to sell 100 percent of its shares in 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.
The transaction is subject to the satisfaction of certain conditions,
including approval by the Mexican Federal Competition Commission.
Terms of the transaction were not disclosed.
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 and Kramer Levin Naftalis
& Frankel served as legal counsel to AIG on this transaction.
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.