Sept 5 (Reuters) - American International Group Inc:
* Enters into agreement to sell asset management business
* Says to sell a portion of asset management business to a company owned by
pacific century group
* Says to sell the business for about $500 million
* Says purchase price consists of a cash payment of about $300 million at
closing, additional future consideration
* Says retaining in-house investment operation that oversees about $480 billion
* Says win neuger to continue as CEO of new business and existing management
team will remain in place
((New York Equities Desk; tel: +1 646 223 6000))
(For more news about American International Group Inc click here:) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Enters into agreement to sell asset management business
* Says to sell a portion of asset management business to a company owned by
pacific century group
* Says to sell the business for about $500 million
* Says purchase price consists of a cash payment of about $300 million at
closing, additional future consideration
* Says retaining in-house investment operation that oversees about $480 billion
* Says win neuger to continue as CEO of new business and existing management
team will remain in place
((New York Equities Desk; tel: +1 646 223 6000))
(For more news about American International Group Inc click here:) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.