AIG Hires BofA, KBW to Help with Asset Sales
Sources familiar with the matter said on Thursday that American International Group (AIG), which is in the process of selling assets to repay a massive U.S. government loan, has hired Bank of America to advise it on the sale of its U.S. personal lines business. The insurer also has hired investment bank Keefe, Bruyette & Woods to sell its Hartford Steam Boiler Inspection and Insurance Co unit, according to sources.
These financial advisers are in addition to the Blackstone Group LP and JPMorgan Chase & Co, which are the global coordinators for the insurer's divestiture program.
Neither AIG nor BofA would comment on the arrangement.
Published on October 17, 2008
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