AIG to Sell Some Businesses
American International Group
(AIG) - Get Report
Friday said it plans to sell a certain number of businesses while retaining its U.S. property and casualty and foreign general insurance businesses.
The insurer also said its "actively at work" on a number of alternatives for its financial products business and its securities lending program.
"To realize our objective, we will sell a number of extraordinary businesses that are proving to be highly attractive to buyers," said AIG Chairman and CEO Edward Liddy in a statement. The company said a number of suitors interested in these businesses have already made contact.
last month received an
loan from the
Federal Reserve
aimed at keeping the insurer out of bankruptcy. AIG on Friday said it has drawn $61 billion on the credit facility as of Sept. 30.
