AIG Jet Leasing Biz Valued At $5B In Sale To Chinese Cos.

Law360, New York (December 10, 2012, 1:24 PM EST) -- Insurance giant American International Group Inc. will unload up to a 90 percent stake in its jet leasing business to Chinese buyers including several companies and private equity investors in a deal that values the target at $5.3 billion, AIG said Sunday.

Led by Weng Xianding, the chairman of New China Trust Co. Ltd., the investor group — which also includes China Aviation Industrial Fund and P3 Investments Ltd. — will first acquire 80.1 percent of the Los Angeles-based International Lease Finance Corp. for $4.2 billion,...
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