In a $254 million deal, the Aabar Investment group out of Abu Dhabi has acquired the Swiss AIG bank. This may just be the beginning of the AIG house cleaning since it was taken over by the U.S. government post bailout. The Aabar Investments Chief Financial Officer, Mohammed Al Husseiny sounded very pleased with the deal “A Swiss private bank available for sale doesn’t happen often” ** he stated.

Will Abu Dhabi be vacuuming up more U.S. and European firms during this financial crisis? I think we will be hearing a lot more news like this… Stay tuned

Source: http://www.ft.com/cms/s/0/7ac5c9e0-c011-11dd-9222-0000779fd18c.html