American International Group, Inc. (AIG) today announced that it has entered into an agreement to sell the assets of AIG Credit Card Company (Taiwan) Limited to Far Eastern International Bank. The transaction, subject to the approval of the Financial Supervisory Commission of the Republic of China, is expected to be completed in the third quarter of 2009. Terms of the transaction were not disclosed
ABN AMRO Bank N.V., Hong Kong Branch (a subsidiary undertaking of The Royal Bank of Scotland Group plc), acted as financial advisor and Linklaters LLP and Russin & Vecchi served as legal counsel to AIG on this transaction.
American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.
Peter Tulupman (News Media)
Teri Watson (Investor Community)