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AIG Division Sells Portfolio for $1.9 Billion

Source: Business Insurance

Posted on 12 Aug 2009

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In what it calls a "significant milestone" in the ongoing process to wind down its financial products business, AIG announced that AIG Financial Products Corp., a division of the parent company, has completed the sale of its energy and infrastructure investment portfolio for $1.9 billion to an undisclosed purchaser.

AIG said the deal concluded AIG Financial Products Corp.'s sale of its lease equity interest in the Bruce Mansfield coal-fired power generation plant in Shippingport, Pa., operated by FirstEnergy Corp.

AIG said the Mansfield sale followed three other recent sales: a tax equity interest in the Stanton wind farm in west Texas to Sumitomo Corp. of America and two lease equity interests in portfolios of rail cars operated by Burlington Northern Santa Fe Corp.