Greenberg sees worldwide business opportunities

Wed May 14, 2008 8:34pm EDT
 
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NEW YORK, May 14 (Reuters) - Billionaire Maurice "Hank" Greenberg, the former chief executive of insurer American International Group Inc (AIG.N: Quote, Profile, Research, Stock Buzz), sees worldwide business opportunities for the private group of companies he now runs.

After Greenberg's split with AIG in 2005, he retained control of, and now runs, several entities that had been affiliated with AIG, including investment companies Starr International Company Inc, and C.V. Starr & Co Inc, that together have assets of about $23.5 billion.

Greenberg, in an interview with Reuters on Wednesday, said he is close to reaching two deals in Russia, as well as real estate ventures in Eastern Europe.

In March, Starr International and other investors reached a deal to sell a block of Russian real estate for $900 million.

"There are a number of things happening in Russia," said Greenberg, in the interview. "Our real estate continues to flourish and we are close to two deals (that) are not in the real estate sector."

He said he was not able to disclose details, as final negotiations were still underway.

Other areas where the group sees investment opportunities include China, India, Vietnam, Korea, Brazil and the United States, he added.

Greenberg, who will turn 84 this year, ran AIG for nearly four decades. Over that period, he transformed the company from an obscure firm mostly selling life insurance overseas into the world's largest insurance company.

But Greenberg said he does not foresee building the companies he now runs into the giant organization that AIG became.  Continued...

 

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