Continuing attempts to wind down Financial Products unit
AIG has sold its lease equity interest in the Bruce Mansfield power generation plant operated by FirstEnergy for $1.9bn as part of its winding down of its Financial Products' business, Dow Jones reports.
Reuters quoted AIG Financial Products chief operating officer Gerry Pasciucco as saying: "The completion of the sales effort for this portfolio is a significant milestone in the ongoing process of winding down AIGFP's business."
Pasciucco was brought in by AIG last year to oversee the process of reducing trillions of dollars in trading positions and liabilities held by the unit.
