AIG agrees to sell AIG Private Bank to Aabar Investments PJSC

Lenz & Staehelin is advising American International Group, Inc. (AIG) on the sale of its Swiss private banking subsidiary AIG Private Bank AG to Aabar Investments PJSC, a global investment company based in Abu Dhabi for consideration of approximately CHF 400 million (subject to adjustments). The transaction is subject to certain conditions, including regulatory and clearance by the competent authorities.

The Lenz & Staehelin team is headed by Rudolf Tschäni and Matthias Wolf and further includes Kuno Sutter, Harald Bärtschi, Marcel Tranchet, Maja Baumann, Margot Van't dack, and Samuel Frösch.

Published: 2 December 2008