Reports AIG (AIG) Close To Selling Car Insurance Unit to Zurich
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According to reports from the Wall Street Journal, AIG (NYSE: AIG) is in talks to sell a car-insurance unit to rival Zurich Financial Services for $1.5-$2 billion. A deal could be announced as soon as today.
If a sale is completed at the rumored price, it would be the largest unit sale for AIG to date, which is trying to sell off assets to payback the billions owed to U.S. taxpayers.
AIG is also trying to sell its aircraft leasing business, International Lease Finance Corp, among others. Second round bids for ILFC are due late this month.
Link to WSJ Article
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