American International Group is giving a Chinese-based group until the end of July to come up with the money needed to complete a deal to give their investors 90 percent control of AIG's airplane leasing unit.
AIG agreed in December to sell control of the business, International Lease Finance Corp., in December to a consortium of New China Trust Co., China Aviation Industrial Fund and P3 Investments Ltd.
The revised deal does give AIG the power to consider a public offering and to engage in talks with other potential acquirers for the business during the extension period.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
