Subject to approval by the Ecuador Superintendency of Finance and the Colombia Superintendency of Finance
American International Group (AIG) has agreed to sell its ownership interests in Inversora Pichincha SA and Interdinco SA to Banco Pichincha CA of Ecuador and other parties. Pichincha SA and Interdinco SA comprise AIG’s consumer finance operations in Colombia.
According to AIG, transaction is subject to the satisfaction of certain conditions (which were not disclosed), including approval by the Ecuador Superintendency of Finance and the Colombia Superintendency of Finance.
UBS Investment Bank acted as financial advisor, and Kramer Levin Naftalis & Frankel served as legal counsel to AIG on this transaction.
Inversora Pichincha SA is a provider of consumer finance products in Colombia with over 19 branches.