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
- Teacher strikeKelowna
- Month old ticket wins $1MKelowna
- Masterchef to open restaurantWest Kelowna
- Curfew check nets drug bustVernon / N. Okanagan
|QHR Technologies Inc||1.21||-0.06|
|Anavex Life Sciences||0.385||-0.005|
|Copper Mountain Mining||2.38||0.00|
|Sunrise Resources Ltd||0.025||-0.005|
|Mission Ready Services||0.25||+0.02|
With all of the adventure activities I have done and still do, I wonder sometimes if the edge still exists. The systematic approach to learning a new adventure or extreme activity combined with the r...
How much time should you put into prospecting? The question is a bit of a puzzle. Ideally, there would be a reference book that lists, by industry, how much time you should invest in prospecting acti...
The Big Picture Valuation fears grip markets Growing concerns about the level of stock market valuations sparked a risk-off trade in global markets this week. Investors are worried that many companies...