Philam Group buys Ford credit firm here.

Publication: Manila Bulletin
Date: Wednesday, December 19 2007

AIG Philam Savings Bank and its sister-firm, Philippine American Life and General Insurance Company (Philamlife) will be acquiring lock, stock and barrel the shares of Ford Credit International, Inc. (FCI) in Primus Finance & Leasing, Inc. (PFLI) and PFL Holdings, Inc. (PFLH) to widen its consumer

lending activities.

AIG Philam Savings and Philamlife buy-out of FCI in the two lending institutions is now under review and pending approval by the regulators, disclosed AIG Philam Bank President and Chief Executive Officer Joven Reyes.

The acquisition is expected to increase the bank's loan portfolio, in particular and will further expand AIG's present in the country, in general, said Reyes.

"This attests to our commitment to expand our consumer finance operations in the Philippines. The purchase will allow us to significantly strengthen our retail auto loan business and at the same time, enter the wholesale auto finance market," he added.

The management of the two institutions are yet to disclose the tag price of the transaction.

PFL is the conduit financial institution of Ford and Mazda leaders in the country.

It is part of Ford Motor Credit Company LLC, one of the world's largest automotive finance firms, which has supported the sale of Ford products since 1959.

Ford Motor Credit, on the other hand, is an indirect wholly owned subsidiary of Ford Motor Company. It provides automotive financing for Ford, Lincoln, Mercury, Jaguar, Land Rover, Mazda and Volvo dealers and customers.

T T T

Email this Article

Digg It

del.icio.us

FOR THE RECORD.

Byline: The Register-Guard Deadlines The For The Record deadline is noon the day before publication for Tuesday through Saturday newspapers, and noon Friday for Sunday or Monday newspapers. Items may be delivered to The Register-Guard at 3500 Chad Drive, mailed ......

FOR THE RECORD.

Byline: The Register-Guard Births SACRED HEART MEDICAL CENTER EUGENE April 24, 2005 Jackson - Kelly and Marlin Jackson, of Springfield, a son. May 4, 2005 Sheffler - Jennifer Tate and Allen Sheffler, of Eugene, a......

FOR THE RECORD.

Byline: The Register-Guard Births SACRED HEART MEDICAL CENTER EUGENE Feb. 8, 2005 Clevenger - Julianna and Robert Clevenger, of Eugene, a son. Radomske - Jennifer and Dale Radomske, of Harrisburg, a son. Feb. 9, 2005......

FOR THE RECORD.

FOR THE RECORD.

Byline: The Register-Guard Deaths Browning - Dorothy Belle Browning, 93, of Lebanon, formerly of Triangle Lake, died Oct. 27. The funeral will be at 1 p.m. Thursday at the First Congregational United Church of Christ, Corvallis. Burial will be at ......

FOR THE RECORD.

Byline: The Register-Guard Births SACRED HEART MEDICAL CENTER EUGENE Nov. 16, 2004 Anderson - Laura and James Anderson, of Brownsville, a son. Dec. 12, 2004 Hernandez - Stephanie Hintz and Robert Hernandez Jr., of Harrisburg,......

FOR THE RECORD.

Byline: The Register-Guard Births PEACE HARBOR HOSPITAL FLORENCE Aug. 30, 2005 Shaw - Danielle Haines and David Shaw, of Florence, a daughter. Deaths Arceneaux - Peggy L. Arceneaux, 45, of Reedsport, died Aug. 30. Dunes......

FOR THE RECORD.

Byline: The Register-Guard Births SACRED HEART MEDICAL CENTER EUGENE Sept. 7, 2004 Ablow-Measelle - Jennifer Ablow and Jeffrey Measelle, of Eugene, a daughter. Mertens - Sara and Paul Mertens, of Eugene, a son. Sept. 9,......

FOR THE RECORD.

FOR THE RECORD.

Byline: The Register-Guard Births SACRED HEART MEDICAL CENTER EUGENE Feb. 11, 2006 Vreim - Lisa and Christopher Vreim, of Eugene, a daughter. Feb. 12, 2006 Flaherty - Ilia Wedel and Joseph Flaherty, of Veneta, a......

Ford lessees to receive restitution.

Byline: Joe Mosley The Register-Guard Consumers in Oregon and nationwide who leased vehicles from Ford dealerships and later terminated their agreements early may be eligible for $100 restitution payments following a settlement Thursday between Ford Motor Credit, 1,300 Ford dealerships ......

FOR THE RECORD.

Byline: The Register-Guard Births McKENZIE-WILLAMETTE MEDICAL CENTER SPRINGFIELD Dec. 23, 2004 Harshbarger-Hartung - Amber Harshbarger, of Springfield, and Gordon Hartung Jr., of Portland, a son. Dec. 27, 2004 Finnegan - Laura Bowden and Cody Finnegan,......

FOR THE RECORD.

Byline: The Register-Guard Births NURSE-MIDWIFERY BIRTH CENTER EUGENE Dec. 20, 2004 Hansen - Eden and Matthew Hansen, of Eugene, a son. Deaths Carpenter-Sharick - Patricia Ruth Carpenter-Sharick, 74, of Eugene, died Dec. 23. Private services......

FOR THE RECORD.

Byline: The Register-Guard Births McKENZIE-WILLAMETTE MEDICAL CENTER SPRINGFIELD Nov. 15, 2004 Frank - Amber and Richard Frank, of Springfield, a daughter. Richardson - Erica and Bryan Richardson of Dexter, a son. Nov. 16, 2004 ......

FOR THE RECORD.

Byline: The Register-Guard Births SACRED HEART MEDICAL CENTER EUGENE May 3, 2005 Burrell - Teia and Jason Burrell, of Springfield, a son. May 4, 2005 Joens - Sarah Biggs, of Grants Pass, and Randy Kukuk,......

Philam Group buys Ford credit firm here.

Related Articles

Related Topics