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.
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