Will bankrupt firms like AIG be able to beat recession and financial problems by selling their units? What is your view?

Printer-friendly versionPDF version

American International Group (AIG) has entered into two separate agreements with the China Construction Bank Asia and MphasiS ltd.

AIG has agreed to sell AIG Finance (Hong Kong) Limited to China Construction Bank Asia for USD 70 million in cash. As per the agreement, the bank will facilitate repayment of intra-group indebtedness and deposits of about USD 557 million.

AIG has also entered into an agreement to sell its India IT services arm, AIG Systems Solutions Pvt. Ltd. (AIGSS) to MphasiS Ltd, an Indian IT services firm. With the acquisition of AIGSS, MphasiS will be empowered to offer augment its capabilities for the insurance industry and offer to offer industry specific domain solutions.read more..

About FSO Knowledge Xchange

FSO Knowledge Xchange (FSOkx) is a B2B media and research company serving the worldwide banking, insurance, and capital markets industry. While we provide timely and relevant information on many aspects of financial services, our particular focus is on how alternate business models will transform the financial services industry. Our portal FSOkx presents the latest news and views, market research, analytics, case studies and white papers.

FSOkx editors, journalists, and a network of thought leaders, advisors, academicians, and research analysts continuously enrich our media and knowledge channels, giving financial services executives the critical information they need to lead their organizations in a global economy. As part of our Knowledge Xchange platform, FSOkx also conducts and promotes industry-leading conferences around the world, provides training and education, hosts a marketplace for financial services decision makers, and facilitates leadership councils that bring together senior level executives in the financial services industry.