AMR Corporation completes sale of American Beacon Advisors

AMR Corporation, the parent company of American Airlines, has completed the sale of American Beacon Advisors, its wholly owned asset-management subsidiary, to Lighthouse Holdings, which is owned by investment funds affiliated with Pharos Capital Group, LLC and TPG Capital, L.P., two leading private equity firms. AMR received a total consideration of $480 million. While primarily a cash transaction, AMR will acquire a small equity stake in the parent company of Lighthouse Holdings.