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Thursday, Aug 15
AIG to give ILFC suitors until September to find the cash
- AIG (AIG) will reportedly give a Chinese consortium until next month to come up with the money needed to acquire 90% of the insurer's aircraft-leasing unit, International Lease Finance Corp (ILFC). The deal is worth $4.75B.
- The last deadline for closing the transaction expired on July 31 and AIG is now free to seek other buyers or take ILFC to IPO, the prospects for which have improved since AIG canceled a listing last year because of poor market conditions. The firm has even revived preparations for a possible investor roadshow.