Peugeot Citroen is buying the Russian unit of AIG
More in Markets and Economy Tags: AIG, AIG Bank, American International Group, Banque PSA Finance SA, business, dollars, financial, financial crisis, insurance, sale
American financial and insurance group American International Group, Inc. (AIG) is selling its banking unit in Russia – “AIG Bank”, is reported in the press release of the company on June 29.
Banque PSA Finance SA, registered in June 2008 as the financial branch of French auto concern PSA Peugeot Citroen, is going to buy the above mentioned bank. German Deutsche Bank will be the financial consultant from the part of AIG, whereas the Russian unit of CMS will consult the French side.
Other terms of the transaction have not yet been disclosed.