The Economic Times, 20 Jun 2009, Nishanth Vasudevan & Gaurav Pai
The sale of AIG Investments, an asset management arm of beleaguered financial house AIG, appears to have taken a new twist. Grapevine has it that the consortium of bidders led by Franklin Resources, which till recently was considered to be the top contender for AIG Investments, has probably backed out of the bidding process.
It is believed that some discomfort within the consortium, which comprises, besides Franklin, Temasek Holdings of Singapore, Pacific Century Group of Hong Kong and private equity Crestview Partners, has resulted in this.
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