NU Online News Service, Aug. 12, 3:15 p.m. EDT

American International Group Inc. said it has an agreement to sell AIG Finance (Hong Kong) Limited to China Construction Bank Asia for $70 million in cash.

The company said the sale of 100 percent of its shares is subject to typical closing adjustments, plus the repayment of intra-group indebtedness and deposits of approximately $557 million.

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