AIG says aircraft leasing deal with Chinese consortium is not dead
Negotiations are ongoing between American International Group (AIG) and the Chinese consortium – which includes a fund run by former Primus Financial Holdings executive Wing-Fai Ng – that has agreed to buy a majority stake in International Lease Finance Corporation (ILFC). The deal was expected to close in the second quarter of 2013 and several deadlines for completing the purchase have been missed.
The consortium, comprising New China Trust, China Aviation Industrial Fund and Ng's P3 Investments, agreed last December to buy 80.1% of ILFC for approximately $4.23 billion. There was also the option...
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