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AIG to Sell Latin American Consumer Finance Businesses

Posted on 26 Jan 2009

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In its continued effort to sell assets to pay back the U.S. government, American International Group Inc (AIG) is selling its consumer finance businesses in Latin America, including a unit in Colombia it bought just last year. According to sources familiar with the matter, the units being sold include the consumer finance businesses in Mexico, Colombia and Argentina.

The initial bidding for the AIG Consumer Finance Group Inc units are expected at the end of this month and have drawn interest from local bidders, one source said.

AIG Consumer Finance provides services such as credit cards, auto loans, consumer loans and sales finance in Asia, Europe, and Latin America.