AIG Extends Deadline On ILFC Sale

August 7, 2013

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US insurer American International Group has extended the deadline for the sale of its USD$4.8 billion ILFC aircraft leasing unit to a Chinese consortium to August 31, Thomson Reuters' Basis Point, reported on Wednesday, citing sources.

AIG chief executive Bob Benmosche said last week on a post-earnings conference call that the company was open to an initial public offering of the unit if a deal does not go through.

The Chinese consortium, which has missed earlier deadlines, includes P3 Investments, New China Trust, one-fifth owned by Barclays and China Aviation Industrial Fund.