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AIG Nears Takeover of Insolvent Korean Brokerages

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NU Online News Service, July 13, 10:10 a.m. – American International Group Inc., New York, is in a final stage in negotiations to acquire a controlling stake in Hyundai Investment Trust Management Company and its two other units, Hyundai Securities Company and Hyundai Investment Trust & Securities, said Lee Keun-young, chairman of the Financial Supervisory Commission, the country’s financial regulatory body, in an interview with the Korea Broadcasting System Radio.

With most of the talks completed, AIG and the Korean government is currently negotiating over the price of the takeover, according to Lee.


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