AIG hires BoA, KBW to sell some assets: Sources

AIG hires BoA, KBW to sell some assets: Sources
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First Published: Fri, Oct 17 2008. 12 13 PM IST
Updated: Fri, Oct 17 2008. 12 13 PM IST
New York: American International Group, which is in the process of selling assets to repay a massive US government loan, has hired Bank of America to advise it on the sale of its US personal lines business, sources familiar with the matter said on Thursday.
The insurer also has hired investment bank Keefe, Bruyette & Woods to sell its Hartford Steam Boiler Inspection and Insurance Co unit, these sources said.
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.
AIG and Bank of America declined to comment, while KBW could not be immediately reached for comment.
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First Published: Fri, Oct 17 2008. 12 13 PM IST
More Topics: Aig | Bank of America | Loan | US | Sale |