AIG in Talks to Sell Bulk of ILFC to Chinese Group
Insurance giant AIG is currently in talks to sell a 90% stake in its subsidiary International Lease Finance Corporation, the company confirmed in an official statement. The counterparty is a consortium of Chinese firms, including New China Trust and China Aviation Industrial Fund.
ILFC is an aircraft leasing unit and, as such, is not considered a core asset by AIG. The company has been mulling a divestment of the unit for some time.
In its statement, AIG did not disclose a possible price for the stake. A Reuters article quoted the company as saying the sale would be for about $5.5 billion. If an agreement is reached, the sale would be subject to regulatory approval by the relevant authorities in the US and China.
The article AIG in Talks to Sell Bulk of ILFC to Chinese Group originally appeared on Fool.com.
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