American International Group Inc. informed that it would sell an 80.1 percent stake in its International Lease Finance Corp. to a group of Chinese investors for as much as $4.2 billion. The acquisition is expected to be the China’s biggest acquisition of an American company. What is more, the group of Chinese investors has an option to buy an extra stake of 9.9 percent, which would give them as much as a 90 percent stock in ILFC.
American International Group (AIG) is in quest for raising about $6 billion to repay a federal government bail-out. AIG will sell part of its stake in Asia subsidiary AIA Group in a long-awaited move to be able to repay the federal government bail-out.