China Construction Bank to buy AIG Hong Kong unit (Dealscape

Troubled insurer American International Group Inc. agreed Wednesday to sell its Hong Kong consumer finance unit to China Construction Bank Corp. for $627 million as it continues to shed noncore assets.

AIG said in a statement it will sell AIG Finance (Hong Kong) Ltd. for $70 million in cash at the closing. China Construction Bank, the second-largest in China, will also repay about $557 million in intragroup debts and deposits.

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NOT A SUBSCRIBER? China Construction Bank to buy AIG Hong Kong unit Posted on August 12, 2009 4:43 PM Troubled insurer American International Group Inc. agreed Wednesday to sell its Hong Kong consumer finance unit to China Construction Bank Corp. for $627 million as it continues to shed noncore assets. AIG said in a statement it will sell AIG Finance (Hong Kong) Ltd. for $70 million in cash at the closing. China Construction Bank, the second-largest in China, will also repay about $557 million in intragroup debts and deposits. This is a free content preview. Subscribers enjoy access to all stories in full as well as second-to-none market intelligence. Dig deeper, with Pipeline. 941 in-depth reports of M&A deals in the Financial Services sector 512 company pages related to Insurance 81 in-depth transaction records for American International Group 58 articles related to China Construction Bank Corp. 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Deutsche Bank Birds Eye Cadbury AG Agrium Inc. Skadden Arps Revolution Money Tandberg ASA Aisling Capital Ken Lewis Natco		EXISTING USERS Username Password Forget your password? Missing a product?

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