M&A Deal Summary

AIG American General Finance Acquires Equity One - Popular

On January 23, 2008, AIG American General Finance acquired real estate company Equity One - Popular from Popular for 1.5B USD

Acquisition Highlights
  • This is AIG American General Finance’s 1st transaction in the Real Estate sector.
  • This is AIG American General Finance’s largest (disclosed) transaction.
  • This is AIG American General Finance’s 2nd transaction in the United States.

M&A Deal Summary
Date 2008-01-23
Target Equity One - Popular
Sector Real Estate
Buyer(s) AIG American General Finance
Sellers(s) Popular
Deal Type Divestiture
Deal Value 1.5B USD

Target

Equity One - Popular

United States
Equity One is a diversified consumer institution offering a complete line of real estate secured, home improvement and unsecured loan products.

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Buyer(S) 1

Buyer

AIG American General Finance

Evansville, Indiana, United States
Category Company
Sector Financial Services
DESCRIPTION

American General Finance, Inc., through its subsidiaries is engaged in the consumer finance and credit insurance business. The company, has assets of $27 billion and operates over 1,550 offices in 45 states, the United Kingdom, Puerto Rico and the U.S. Virgin Islands. Products and services are provided to more than 2 million families. The company offers direct consumer and home equity loans, retail sales financing, and other credit-related products.

DEAL STATS #
Overall 3 of 3
Sector (Real Estate) 1 of 1
Type (Divestiture) 2 of 2
Country (United States) 2 of 2
Year (2008) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-28 Matrix Direct

San Diego, California, United States

Matrix Direct is a direct marketer of term life insurance. Matrix Direct is licensed in 49 states and the District of Columbia, and has had a successful agency relationship with AIG American General since 2003.

Buy -

Seller(S) 1

SELLER

Popular

Hato Rey, Puerto Rico

website

Category Company
Founded 1893
Sector Financial Services
Employees8,522
Revenue 2.3B USD (2020)
DESCRIPTION

Popular is a banking institution by both assets and deposits in Puerto Rico and in the United States ranks among the 50 largest banks and thrifts by total assets. In the United States, Popular has established a community banking franchise providing a broad range of financial services and products with branches in Florida, New Jersey and New York. Popular was founded in 1893 and is based in Hato Rey, Puerto Rico.

DEAL STATS #
Overall 1 of 3
Sector (Real Estate) 1 of 1
Type (Divestiture) 1 of 3
Country (United States) 1 of 3
Year (2008) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-05 Quaker City Bancorp

Whittier,, California, United States

Quaker City Bancorp, Inc. operates as operates as a bank holding company for Quaker City Bank, which provides retail-banking services in southern California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-08 Popular Inc - Illinois 12 Branches

Illinois, United States

Popular bank Illinois 12 Branches provides various banking services and products.

Sell -
Mergr

Product

Company

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