American International Group (AIG) is reportedly engaged in negotiations with AerCap Holdings, to divest its jet-leasing business International Lease Finance Corp (ILFC).
American International Group (AIG) is reportedly engaged in negotiations with AerCap Holdings, to divest its jet-leasing business International Lease Finance Corp (ILFC).
Sources familiar with the matter were quoted by Bloomberg as saying that AerCap, the largest independent plane lessor, might co-operate with other bidders, to seal the deal.
AIG did not formally cancel its previous agreement with a Chinese group led by Hong Kong-based P3 Investments, which announced in 2012 to purchase majority stake in International Lease Finance Corp for approximately $4.2bn, the sources told the news agency.
Since 2008, AIG has been looking for a viable option to dispose of ILFC, so that it can repay to creditors, who bailed out the firm during the run up of the financial crisis.
The New York-based insurance firm has been concentrating on US life insurance and global property-casualty coverage after divesting more than $70bn in assets.
According to data compiled by Bloomberg, AerCap manages $15bn of assets owned and under management and had a market value of $2.7bn.