A week after reports surfaced that American International Group Inc. was having trouble divesting a handful of units, good news came in the form or two sales agreements.

Still seeking to raise funds to repay the nearly $180 billion in bailout loans from the federal government, AIG has agreed to sell its Hong Kong consumer finance and India-based IT services units, according to a Reuters report. China Construction Bank (CCB) Asia will buy 100% of AIG Finance (Hong Kong) Ltd. for $70 million in cash. The deal also includes repayment of intra-group indebtedness and deposits of about $557 million, the two companies told Reuters.

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access