Now this is good. The government has already decided that AIG is too big to fail, now China is buying part of the Company. With our money, no doubt.
A Chinese group agreed to buy 80.1 percent of American International Group Inc. (AIG)’s plane-leasing unit for $4.23 billion in the nation’s largest acquisition of a U.S. company.
The International Lease Finance Corp. acquirers, led by New China Trust Co. Chairman Weng Xianding, have an option to buy another 9.9 percent, New York-based AIG said today in a statement. The transaction, which values ILFC at $5.3 billion, passes China Investment Corp.’s $3 billion purchase of a stake in Blackstone Group LP (BX) in 2007 as the biggest Chinese-U.S. deal.
A group of Chinese investors agreed to buy an 80.1% stake in the plane-leasing unit of AIG for $4.23 billion. Robert Benmosche, chief executive officer of American International Group Inc.
The acquisition gives the group control of the world’s second-largest aircraft lessor as rising travel in China and Asia spurs demand for planes. AIG, which counts the U.S. government as its largest investor, is selling Los Angeles-based ILFC as Chief Executive Officer Robert Benmosche focuses on insurance operations and works to reduce debt.
More here:
http://www.bloomberg.com/news/2012-1...3-billion.html
Chinese Group Buys 80% of AIG Plane Unit for $4.2 Billion
