Generali and Axa tipped as buyers for ‘crown jewel’ AIG asset
AIG has moved a step closer to selling its Philippines unit after releasing a detailed information memorandum to potential buyers, The FT reports
The FT clamed Banco de Oro Unibank, the country's biggest bank, has joined Italy's Generali and Malaysia's Kuok Group to bid.
It also said Metropolitan Bank and Trust, the country's second-biggest lender, could form a consortium with Axa of France to make an offer.
AIG's Asian assets are regarded as the company's crown jewels and will account for a substantial part of the loan owing to the US taxpayer.
