American International Group Inc., the insurer shedding assets to pay back a $182.5 billion U.S. bailout, plans to sell its stake in an Argentine consumer finance operation to Banco de Galicia y Buenos Aires SA and an investment group arranged by Grupo Pegasus.

The sale would be of New York-based AIG's holdings in Compañía Financiera Argentina SA, known as CFA; Cobranzas y Servicios SA, and AIG Universal Processing Center SA, according to a statement Tuesday. Financial terms were not disclosed.

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