We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

AIG To Sell Rail Services Unit For $600M

Law360 (April 18, 2011, 8:33 PM EDT) -- American International Group Inc. said Monday it had agreed to sell its rail services unit to a division of Perella Weinberg Partners LP as part of its efforts to pay back federal bailout money.

AIG and Perella Weinberg did not disclose the terms of the deal in a joint statement, but the New York Times reported the price at $600 million. As part of the transaction, certain funds within Perella Weinberg's asset-based value strategy have formed a new entity to purchase and manage Chicago-based AIG Rail...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.