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AIG to sell Latin America consumer finance units

American International Group Inc is selling its consumer finance businesses in Latin America, including a unit in Colombia it bought just last year, as the insurer sheds assets to pay back the US government, according to sources familiar with the matter.

The units being sold include the consumer finance businesses in Mexico, Colombia and Argentina, the sources said.

The initial bidding for the AIG Consumer Finance Group Inc units are expected at the end of this month and have drawn interest from local bidders, one source said.

AIG Consumer Finance provides services such as credit cards, auto loans, consumer loans and sales finance in Asia, Europe, and Latin America.

AIG declined to comment. (Reuters)