Equity One is a diversified consumer lending institution offering a line of real estate secured, home improvement and unsecured loan products. The transaction, which is subject to regulatory approvals and closing conditions, is expected to close in early 2008.
Frederick Geissinger, chairman and CEO of American General Finance, said: American General Finance’s business continues to perform quite well compared to many consumer lenders. That fact, combined with AIG’s continued support, allows the company to take advantage of loan growth opportunities that fit our strategic objectives and our underwriting and return requirements.
Equity One’s portfolio complements our existing business and we are excited by the opportunity to increase the number of customers American General Finance lends to around the country.
