Weil Gotshal & Manges and Skadden Arps Slate Meagher & Flom have taken the lead roles on AIG’s sale of an 80% stake in its consumer finance lender, American General Finance (AGF), to the Fortress Investment Group, reports The Am Law Daily.
The purchase price of the deal – which will allow AIG to offload between $17bn (£11bn) and $19bn (£12bn) worth of debt – has not been disclosed, but AGF has been previously valued at around $2bn (£1.3bn).
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