New York – January 13, 2009 (LAWFUEL) – Debevoise & Plimpton LLP is advising American International Group, Inc. (AIG) in its agreement to sell AIG Life Insurance Company of Canada (AIG Life of Canada) to BMO Financial Group (BMO). Under the terms of the transaction, BMO will acquire AIG Life of Canada for approximately C$375 million (or approximately US $308 million) in cash, subject to any change in net worth between September 30, 2008 and closing.
American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. Debevoise & Plimpton LLP is a leading international law firm with offices in New York, Washington D.C., London, Paris, Frankfurt, Moscow, Hong Kong and Shanghai.
The Debevoise team is led by partner Nicholas F. Potter and includes partner Seth L. Rosen, counsel Judith L. Church and Stefan P. Stauder and associates Michael McDonnell and Liam F. Timoney