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AIG Sells Consumer Finance Operations In Mexico

UBS Investment Bank acted as financial advisor to AIG on this transaction

American International Group (AIG), a US-based provider of property-casualty and life insurance, has completed the sale of its consumer finance operations in Mexico.

The operation comprises AIG Universal, S.A. de C.V., SOFOM E.N.R. and Markcenter Services, S. de R.L. de C.V, to Desarrollo de Negocios Integrados, S.A. de C.V. and Inversiones DNI, S.A. de C.V., companies related to Afirme Grupo Financiero and Consorcio Villacero.

UBS Investment Bank acted as financial advisor to AIG on this transaction.

Alain Karaoglan, Senior Vice President, Divestiture, said: “This sale continues the momentum of AIG’s restructuring efforts. We are pleased with the progress that we are making with the disposition of our global consumer finance businesses.”

AIG Universal has a network of 50 branches offering third party insurance to clients in 12 states in the central and northern regions of Mexico.