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In the Marketplace

By ALM Staff | Law Journal Newsletters |

American International Group, Inc. and an investor group led by Weng Xianding, the chairman of New China Trust Co. Ltd., have entered into an agreement under which AIG will sell up to a 90% stake in International Lease Finance Corporation (“ILFC”), a non-core asset, to the investor group in a transaction that values ILFC at approximately $5.28 billion. The investor group comprised of New China Trust Co. Ltd., China Aviation Industrial Fund and P3 Investments Ltd. has agreed to acquire 80.1% of ILFC for approximately $4.23 billion, with an option to acquire an additional 9.9% stake. AIG will retain at least a 10% ownership stake in ILFC. The transaction is expected to close in the second quarter of 2013. ILFC will retain operational independence and will continue to be headquartered in Los Angeles. ILFC's chief executive officer Henri Courpron and president Frederick S. Cromer will continue to operate and manage the business.

American International Group, Inc. and an investor group led by Weng Xianding, the chairman of New China Trust Co. Ltd., have entered into an agreement under which AIG will sell up to a 90% stake in International Lease Finance Corporation (“ILFC”), a non-core asset, to the investor group in a transaction that values ILFC at approximately $5.28 billion. The investor group comprised of New China Trust Co. Ltd., China Aviation Industrial Fund and P3 Investments Ltd. has agreed to acquire 80.1% of ILFC for approximately $4.23 billion, with an option to acquire an additional 9.9% stake. AIG will retain at least a 10% ownership stake in ILFC. The transaction is expected to close in the second quarter of 2013. ILFC will retain operational independence and will continue to be headquartered in Los Angeles. ILFC's chief executive officer Henri Courpron and president Frederick S. Cromer will continue to operate and manage the business.

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