MUMBAI (Reuters) � U.S. insurer American International Group (AIG.N) is in talks with potential buyers to sell its mutual funds business in India for roughly $10 million, according to a report in the Mint newspaper citing three unnamed people familiar with the matter.
The newspaper said Bank of America Merrill Lynch (BAC.N) had been appointed to arrange a sale of AIG Global Investment Group Mutual Fund, which has about 10.2 billion rupees ($230 million) under management.
A sale would value the unit at roughly 4-5 percent of its assets under management, according to the report.
The report said both AIG and Bank of America Merrill Lynch declined to comment.
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