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AIG confirms discussions to sell a 90% stake in ILFC, in discussions with Chinese investor group

10-Dec-2012 11:35 AM

American International Group (AIG) confirmed (07-Dec-2012) it is in discussions to sell a 90% interest in International Lease Finance Corporation (ILFC) to an investor group led by New China Trust Co Ltd, New China Life Insurance Co Ltd and P3 Investments Ltd, together with China Aviation Industrial Fund and an investment arm of ICBC International. AIG said: "AIG has consistently stated that ILFC is a non-core asset. Any possible transaction involving ILFC would be subject to required regulatory approvals, including those in the US and China, and customary closing conditions". A deal may value ILFC at around USD5.5 billion and the IPO may take place in 2013 if financial markets stabilise. Under terms of the deal reportedly being discussed, AIG would reportedly retain a minority stake in ILFC. [more - original PR]