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Ecuador Bank To Buy AIG Colombian Unit

07-02-2009 | Source: emii.com

American International Group (AIG) will sell all of its ownership interests in its consumer finance operations in Colombia, The Wall Street Journal reports. It is planning to sell its entire stake in Inversora Pichincha and 99.98% in Interdinco, for an undisclosed amount.

AIG will sell the Colombian assets to Ecuador’s Banco Pichincha and other companies. The ailing New York-based company is selling assets across the world to raise capital to cover some of its $175 billion aid package from the government.

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