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Member, Beacon International Group, Ltd.
NEW YORKAIG Financial Products Corp., a division of American International Group Inc., has completed the sale of its energy and infrastructure investment portfolio for $1.9 billion, the company said Tuesday.
In a statement, the New York-based insurerwhich is selling units to repay federal bailout debtsaid the asset sale is a “significant milestone” in the ongoing process to wind down AIG’s financial products business.
The disposition concluded with the AIGFP’s sale of its lease equity interest in the Bruce Mansfield coal-fired power generation plant in Shippingport, Pa., operated by FirstEnergy Corp. The purchaser was not disclosed.
The Mansfield sale followed three other recent salesa tax equity interest in the Stanton wind farm in west Texas to Sumitomo Corp. of America and two lease equity interests in portfolios of rail cars operated by Burlington Northern Santa Fe Corp., the company said.