Seeking Alpha

Leader of group looking to buy AIG's ILFC pulled out in May

  • New China Trust, which was the leader of the consortium that has agreed to acquire AIG's (AIG) aircraft-leasing business, reportedly withdrew from the $4.2B deal in May due to fears that New China's ties to the country's National Development & Reform Commission would cause a conflict of interests.
  • The exit prompted other investors to pull out of the deal to buy International Lease Finance Corp. (ILFC) and made it difficult for the group to finance the deal. So far, it's raised $2.6B and missed three deadlines to make payments. The next one is due at the end of the month.
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio: