A Chinese group agreed to buy 80.1 percent of American International Group Inc. (AIG)’s plane-leasing unit for $4.23 billion in the nation’s largest acquisition of a U.S. company.
The International Lease Finance Corp. acquirers, led by New China Trust Co. Chairman Weng Xianding, have an option to buy another 9.9 percent, New York-based AIG said today in a statement. The transaction, which values ILFC at $5.3 billion, passes China Investment Corp.’s $3 billion purchase of a stake in Blackstone Group LP (BX) in 2007 as the biggest Chinese-U.S. deal.
A group of Chinese investors agreed to buy an 80.1% stake in the plane-leasing unit of AIG for $4.23 billion. Photographer: Ramin Talaie/Bloomberg
June 4 (Bloomberg) -- Robert Benmosche, chief executive officer of American International Group Inc., talks about the European debt crisis and AIG's growth strategy. Benmosche, who spoke in an interview this weekend with Bloomberg's Boris Cerni, also discussed his leadership of the company and the outlook for the U.S. economy. (Source: Bloomberg)
Robert Benmosche, chief executive officer of American International Group Inc. Photographer: SeongJoon Cho/Bloomberg
The acquisition gives the group control of the world’s second-largest aircraft lessor as rising travel in China and Asia spurs demand for planes. AIG, which counts the U.S. government as its largest investor, is selling the Los Angeles- based unit as Chief Executive Officer Robert Benmosche focuses on insurance operations and works to reduce debt.
No comments:
Post a Comment