Chinese investors take 80% stake in AIG aircraft leasing unit
Source: CNN
HONG KONG - American International Group agreed Monday to sell an 80.1% stake in its giant aircraft leasing business to a group of Chinese investors.
The investor group, which includes New China Trust, China Aviation Industrial Fund and P3 Investments, will pay $4.23 billion to acquire the stake in AIG's International Lease Finance Corporation. The deal includes an option for the investors to purchase an additional 9.9% stake.
The acquisition is part of AIG's drive to sell non-core assets, a strategy designed to help the insurance company emerge from the financial crisis, during which it required a government bailout, as a leaner business...
If approved by regulators, the acquisition of the American business would be one of the largest ever by Chinese investors. Regulators in the United States, including the Committee on Foreign Investment, are likely to closely scrutinize the deal. ...
Read more: http://money.cnn.com/2012/12/09/news/china-aig-planes/
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