BY SERENA NG AND ANUPREETA DAS
American International Group Inc. has put its rail-car subsidiary on the auction block, another small step by the giant insurer as it seeks to shed noncore assets to repay its bailout and regain independence from government ownership.
AIG Rail Services Inc., a Chicago business that is part of AIG's financial-services division, was set up around five years ago and provides rail-car leases and equipment financing to shipping companies, railroads and others in the North American rail industry. The company, a relatively small player in this space, leases out tank cars and freight cars used for transporting fuel, commodities, building materials and other items.
http://online.wsj.com/article/SB10001424052748704444304575628353167651216.html
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The rest of the article is behind Rupert Murdoch’s Paywall, but the great AIG sell off continues and it looks like they are really scraping the barrel now. It should just be fun to see what else they conjure up to sell off in their attempts to pay back The Fed and US Treasury.
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