TradeArabia
Abu Dhabi-based Aabar Investment (Aabar) said it has signed an agreement with American International Group (AIG) for the acquisition of its wealth management provider AIG Private Bank.
Under the agreement, Aabar will assume certain loans outstanding at closing of the transaction up to an aggregate maximum of $83 million.
The consideration payable for the entire share capital of AIG Private Bank is equal to CHF 307 million ($254 million) subject to a post closing price adjustment based on the net asset value and assets under management of the bank at closing, the company said in a statement.
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