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American Express Company Completes Sale of American Express Bank Ltd. to Standard Chartered PLC.

Publication: Business Wire
Publication Date: 29-FEB-08
Format: Online
Delivery: Immediate Online Access

Article Excerpt
NEW YORK -- American Express Company (NYSE: AXP) today announced that it has completed the sale of its international banking subsidiary, American Express Bank Ltd. (AEB), to Standard Chartered PLC. Standard Chartered will pay American Express a purchase price of approximately $823 million.

This transaction will result in a gain on the sale which will be reflected in the first quarter income from discontinued...

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