Printer Friendly

Macquarie may bid for AIG unit.

Global Banking News-8 May 2009-Macquarie may bid for AIG unit(C)2009 ENPublishing -

Global Banking News - 08 May 2009(c)2005 - Electronic News Publishing -

Macquarie Group Ltd (NYSE: MIC), considered to be Australia's biggest investment bank, is to bid for a unit of American International Group, Inc (NYSE: AIG) (AIG), AIG Investments.

The Australian bank is to bid for the fund unit of AIG, which has about USD100bn under management. AIG may sell the unit for USD500m. Macquarie Group Ltd had last week raised AUD540m in a stock sale.

Macquarie Group Ltd's CEO, Nicholas Moore, is shifting focus from infrastructure investments to businesses such as managing stocks and bonds for clients after the company reported a loss in 16 years.

[Editorial queries for this story should be sent to]

((Distributed via M2 Communications Ltd -
COPYRIGHT 2009 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Global Banking News (GBN)
Date:May 8, 2009
Previous Article:Sundaram BNP Home pays maiden dividend.
Next Article:Barclays' retail and commercial business head resigns.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters