Fortress Buying American General Finance?
August 16, 2010- Share:
Fortress Investment Group has reportedly entered into a definitive agreement to acquire an 80% stake in American General Finance from American International Group (NYSE: AIG) for $130 million. AIG will continue to hold the remaining 20% ownership interest. The company provides consumer credit services and is supposedly being advised by Bank of America and Weil Gotshal & Manges, while Fortress is being advised by Skadden Arps Slate Meagher & Flom.
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