US insurer American International Group Inc., or AIG, is in talks with potential buyers to sell its mutual fund business in India, valuing the unit at 4-5% of the assets it has under management, according to three officials familiar with the development.
Bank of America Merrill-Lynch has been appointed as the investment banker to broker a sale of AIG Global Investment Group Mutual Fund, which has Rs1,019.77 crore of assets under management (AUM), said the three officials.
All three officials declined to be identified. Two of them are with companies that are in the fray to buy the mutual fund.
US insurer American International Group Inc., or AIG, is in talks with potential buyers to sell its mutual fund business in India, valuing the unit at 4-5% of the assets it has under management, according to three officials familiar with the development.
Bank of America Merrill-Lynch has been appointed as the investment banker to broker a sale of AIG Global Investment Group Mutual Fund, which has Rs1,019.77 crore of assets under management (AUM), said the three officials.
All three officials declined to be identified. Two of them are with companies that are in the fray to buy the mutual fund.
Source: http://www.livemint.com/2010/10/03235320/AIG-to-sell-India-MF-biz.html?h=A1
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