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Fortress Funds To Buy 80% Stake In AIG Subprime-Lending Unit

By Aug 11, 2010, 12:44 PM Author's Website  

American International Group Inc. (AIG) said on Wednesday it agreed to sell 80% of its subprime-lending arm to private-equity group Fortress Investment Group, and take a $1.9 billion pre-tax loss due to the sale. The two firms didn’t disclose the price for the unit – WSJ

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