NU Online News Service, June 29, 3:16 p.m. EDT

In its latest divestiture move, American International Group Inc. announced today that it has agreed to sell 98 percent of the shares in its consumer finance operations in Russia to Banque PSA Finance SA.

AIG, which did not give a price, said the sale consisted of OOO AIG Bank (RUS), with an option, not exercisable until mid-March 2011, for the sale of the remaining 2 percent.

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