AIG selling aircraft leasing unit in $5.4B deal
By The Associated Press
Published: Tuesday, Dec. 17, 2013, 12:01 a.m.
AIG is selling its aircraft leasing business International Lease Finance Corp. to AerCap in a cash-and-stock deal valued at about $5.4 billion.
International Lease Finance has almost 1,000 owned and managed aircraft and has commitments to buy about 330 high-demand, fuel-efficient aircraft. It will become a subsidiary of AerCap.
American International Group Inc. said on Monday that this is the last major sale of one of its non-core assets.
AerCap, based in the Netherlands, has offices in the United States, Ireland, China, Singapore and the United Arab Emirates.
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