Belgian-French financial firm, Dexia, has sold its loss-making U.S. insurance unit, Financial Security Assurance (FSA), Reuters reports. Bond insurer, Assured Guaranty, has bought FSA for $817 million.

Dexia has sold FSA for $546 million in cash and 21.85 million Assured Guaranty shares. Dexia will retain FSA’s financial products unit, which has a $16.6 billion portfolio and current loss of $20 million.

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