AIG in Talks to Sell Bulk of ILFC to Chinese Group

Insurance giant AIG (NYSE: 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.


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