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AIG Completes Sale of AIG Private Bank in Abu Dhabi

Posted on 16 Apr 2009

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American International Group Inc. (AIG) said it completed the sale of AIG Private Bank Ltd. to Aabar Investments PJSC, based in Abu Dhabi.

Aabar paid AIG about $253 million for the entire share capital of AIG Private Bank, and purchased and assumed about $55 million of intra-company loans outstanding to AIG Private Bank. The information was released in a Business Wire statement.