A unit of New York-based American International Group Inc. will purchase Inversora Pichincha S.A., the third largest consumer finance company in Colombia, AIG said yesterday without disclosing terms.
The insurance giant said AIG Consumer Finance Group Inc. is purchasing the company from Ecuador-based Banco Pichincha C.A. and other minority shareholders.
AIG said Inversora Pichincha provides consumer auto loans, commercial vehicle loans and unsecured consumer credit through direct and indirect distribution channels, including auto dealerships, affiliated businesses and government agencies. It has 17 branches in the four largest cities in Colombia.
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