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AIG Mulls Selling 15-Plus Businesses

TSC Staff

Insurer American International Group (AIG Quote) is considering selling more than 15 businesses to repay a loan of $85 billion from the government, the Financial Times reports.

AIG is considering selling its aircraft leasing unit, a stake in its large U.S. reinsurer and billions of dollars in properties, according to the Financial Times . AIG's board met Sunday evening to discuss the plan.

AIG wants businesses such as its international life insurance unit and its U.S. pension businesses to be at the core of the "new AIG," the Financial Times reports, citing people close to the situation.

AIG must move quickly because it has to repay the government loan to prevent the U.S. government from taking control of the company.