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AIG sells consumer finance operations in Mexico

 

Saturday, Jul 18,2009, 11:38:17 AM   Click:

NEW YORK_Insurer American International Group Inc. said on Friday that it closed its sale of its Mexican consumer finance operations.

AIG sold its AIG Universal and Markcenter Services to Desarrollo de Negocios Integrados and Inversiones DNI. Terms of the deal were not disclosed.

AIG Universal has 50 branches serving about 50,000 clients with personal loans and third-party insurance.

During the credit crisis last fall, the U.S. government rescued AIG from the brink of collapse with a loan bailout package worth up to $182.5 billion. The government now owns roughly 80 percent of the huge insurer. AIG is now shedding assets and cutting costs as it restructures.

Shares of AIG rose 77 cents, or 6 percent, to close at $13.52.


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