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AIG Sells JetFinance

AIG Capital Partners, an emerging markets private equity investor, has sold JetFinance International to BNP Paribas, through its consumer arm Cetelem.

No price was given for the transaction, but JetFinance had total assets of Euro109m (US$149m). The business, founded in 2001, is a specialised consumer finance business in Bulgaria, providing point-of-sale financing, home collected loans and personal loans.

Completion of the sale is expected to take place in the fourth quarter of the year. Citigroup Global Markets and White & Case advised AIG Capital Partners on the transaction.