AIG FP Completes Sale of Energy, Infrastructure Assets

AIG Financial Products Corp. (AIGFP), an AIG company (AIG), has completed the sale of its energy and infrastructure investment assets, realizing aggregate net proceeds in excess of $1.9 billion.

This disposition effort, which began during the fall of 2008, concluded with AIGFP’s sale of its lease equity interest in the Bruce Mansfield power generation plant operated by FirstEnergy Corp. The Mansfield sale follows recent closings of three other sales: a tax equity interest in the Stanton wind farm in west Texas and two lease equity interests in portfolios of rail cars operated by BNSF Railway Company.

AIGFP has previously announced certain other asset sales from the portfolio, including its interest in Tenaska Marketing Ventures, its interest in two volumetric production payment transactions and its stake in three operating Spanish solar photovoltaic power plants.

Gerry Pasciucco, AIGFP chief operating officer said, “The completion of the sales effort for this portfolio is a significant milestone in the ongoing process of winding down AIGFP’s business. … These recent asset sales provide a positive conclusion to a very successful disposition program for AIGFP’s energy and infrastructure portfolio.”

Source: AIG