American International Group Inc is in talks to sell its mutual fund business in India for around $10 million, India's Mint newspaper reported Monday, as the troubled US insurer struggles repay its $182 billion US government bailout.
AIG is in talks with at least four asset management companies to sell its AIG Global Investment Group Mutual Fund for 4 percent to 5 percent of the value of its assets under management, which total 10.2 billion rupees ($230 million), Mint reported citing three unnamed sources with knowledge of the deal.
AIG has been selling off subsidiaries as it finalises plans to exit its government bailout before US midterm elections. The company said last week it will sell its two Japanese life insurance units to Prudential Financial Inc for about $4.2 billion in cash.
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