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CCB Asia finalises buyout of AIG's Hong-Kong unit.

Global Banking News-5 November 2009-CCB Asia finalises buyout of AIG's Hong-Kong unit(C)2009 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 05 November 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

Hong Kong-based China Construction Bank Asia (CCB) has said that it has completed the acquisition of US insurer American International Group's (NYSE:AIG) local arm AIG Finance (Hong Kong) Limited.

Following the transaction, AIG Finance has been renamed China Construction Bank (Asia) Finance.

CCB Asia, owned by China Construction Bank Corporation (CCB) (HKG: 0939) (601939.SS) (OTC: CICHF.PK), has signed a deal with AIG to buy its Hong Kong unit for USD70m (EUR47.5m) in August 2009.

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Publication:Global Banking News (GBN)
Date:Nov 5, 2009
Words:135
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