UPDATE 1-AIG to sell Russia bank subsidiary to Peugeot unit

Newswire

NEW YORK, June 29 (Reuters) - American International Group Inc on Monday said it agreed to sell a 98 percent stake in its Russian consumer finance business to Banque PSA Finance SA, a unit of France's Peugeot SA . Terms were not disclosed. The Russian unit, OOO AIG Bank, was created last June and employs a dozen people. The transaction includes an option for AIG to sell the remaining 2 percent to Banque PSA after mid-March 2011. It is subject to conditions including approval by the Central ...

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