US insurer AIG mulls sale of its assetsSeptember 18th, 2008 - 8:44 pm ICT by IANS
New York, Sep 18 (DPA) US insurance firm AIG is beginning to consider the sell-off of its assets after the Federal Reserve’s $85 billion rescue loan, the New York Times reported Thursday.The Federal Reserve moved dramatically Wednesday to rescue American International Group (AIG), taking on 80 percent of the firm’s shares in return for the loan. AIG is the world’s largest insurance group.
The firm has received the loan in order to buy time for an orderly sale of assets, the newspaper said.
Amongst firms signalling interest in AIG assets are the competing German giants Allianz and Munich Re, France’s AXA, the Netherlands’ ING Group as well as the Swiss Zurich Financial Services (ZFS), according to a Wall Street Journal report Thursday.
In the US, multi-billionaire Warren Buffett’s firm Berkshire Hathaway is also seen as a candidate.
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