AIG selling aircraft leasing business to AerCap in cash-and-stock deal valued at about $5.4B
NEW YORK, N.Y. - AIG is selling aircraft leasing business International Lease Finance Corp. to AerCap in a cash-and-stock deal valued at approximately $5.4 billion.
The transaction includes $3 billion in cash and about 97.6 million shares of AerCap Holdings NV.
American International Group Inc. said Monday that this is the last major sale of one of its non-core assets.
The insurer initially had a deal to sell up to 90 per cent of International Lease Finance's stock to Jumbo Acquisition Ltd., but ended that agreement before striking its deal with AerCap.
The transaction is expected to close in 2014's second quarter. It still needs approval from AerCap shareholders.
AIG share rose 42 cents to $50.15 in premarket trading.
Read more Business News
- Hwy. 1 closed near RevelstokeBC - 9:46 am
- Hospital floors to be finished by fall 2015Vernon / N. Okanagan - 9:28 am
- Teachers have strike mandateBC - 6:22 am
- Shooting at York University Canada - 6:15 am
|QHR Technologies Inc||1.17||+0.01|
|Anavex Life Sciences||0.46||+0.022|
|Copper Mountain Mining||2.17||-0.12|
|Sunrise Resources Ltd||0.035||+0.005|
|Mission Ready Services||0.295||0.00|
In the razzle dazzle of Hollywood it is hard to find anyone who stands out from the crowd. The fraternity of Actors, Producers, Directors and various other technical guru’s seem to live in a wo...
This past Sunday I drove from Kelowna to Powell River. For those of you who’ve never had to, particularly in winter, it means rising in the wee hours; managing a treacherous journey on the Coqui...
The budget should allow more competition from smaller lenders which will keep banks competitive and make dealing with a mortgage broker even more important. "The government has promised that th...