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January 24, 2008 | From Times Staff Wire Services
Popular Inc., the parent of Banco Popular, agreed to sell much of U.S. consumer finance unit Equity One to a unit of American International Group Inc. for about $1.5 billion, the companies said. The sale includes much of Equity One's mortgage loan and consumer loan portfolio, and carries a 3% premium to the amount of loans sold, Popular spokesman Enrique Martel said. AIG may close 106 of Equity One's 130 branches, which operate in 15 U.S. states, and retain about 250 of the unit's 512 employees, Martel said.
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CALIFORNIA | LOCAL
September 21, 1988
I hope Conrad keeps up the good work. He has helped make Ronald Reagan the most popular President of our time. I hope he will do the same for Bush. FRANK MUNICINO Camarillo
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