PE-backed Chinese consortium to buy AIG’s aircraft leasing business
A Chinese consortium including a fund run by Wing-fai Ng, one of the co-founders of now-defunct Primus Financial Holdings, has agreed to buy up to 90% of International Lease Finance Corporation (ILFC) from American International Group (AIG). It is the latest in a string of aircraft leasing firms to attract Chinese strategic and private equity interest.
The consortium, comprising New China Trust, China Aviation Industrial Fund and Ng's P3 Investments, has agreed to buy 80.1% of ILFC for approximately $4.23 billion, AIG said in a statement. They have the...
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