- Category
- Announcements
- Date
- June 02, 2009
- Title
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Kramer Levin Closes AIG-CFA Deal
Kramer Levin client American International Group, Inc. (AIG) announced on June 2 that it has entered into an agreement to sell 100 percent of its shares in its consumer finance operations in Argentina, consisting of Compañía Financiera Argentina S.A. (CFA), Cobranzas y Servicios S.A. and AIG Universal Processing Center S.A., to Banco de Galicia y Buenos Aires S.A. and an investment group arranged by Grupo Pegasus. Financial terms of the transaction were not disclosed.
CFA is a leading provider of personal loans in Argentina, with 93 branches nationwide, distribution agreements with approximately 3,900 retailers and approximately one million customers.
The Kramer Levin team was led by Howard T. Spilko and Andrew Ward. The other members of the team were Joshua Little (Corporate), Kevin M. Moss and Michael Maoz (IP), Barry Herzog and Blake Rigel (tax) and Avram J. Cahn (employee benefits).
The deal was also reported on by Crain's New York Business, Insurance Business Review, Business News Americas, The Deal, Reuters, the Associated Press, BusinessWire.com and Forbes.com.
Related People
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Howard T. Spilko
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- Partner
- Co-Managing Partner
- New York
- vcard
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Andrew I. Ward
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- Special Counsel
- New York
- vcard
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Kevin M. Moss
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- Counsel
- New York
- vcard
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Barry Herzog
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- Partner
- Chair, Tax
- New York
- vcard
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Avram J. Cahn
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- Special Counsel
- New York
- vcard
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