AIG Completes Sale Of Its Consumer Finance Operations In Mexico

NEW YORK - American International Group, Inc. (AIG) today announced that it has closed the sale of 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.

Terms of the transaction were not disclosed.

“This sale continues the momentum of AIG’s restructuring efforts,” said Alain Karaoglan, Senior Vice President – Divestiture. “We are pleased with the progress that we are making with the disposition of our global consumer finance businesses.”

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 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.