• Most Popular
  • Most Shared

AIG in talks to sell part of ILFC to Hazy -sources

Mon Oct 12, 2009 3:10pm EDT

Stocks

   

NEW YORK, Oct 12 (Reuters) - American International Group Inc (AIG.N) is in talks with a group led by International Lease Finance Corp Chief Executive Steven Udvar-Hazy to sell them some aircraft from the lessor's fleet, sources familiar with the matter said.

Udvar-Hazy is backed by a consortium that includes private equity firms Onex Corp (OCX.TO) and Greenbriar Equity Group, the sources said, declining to be named because talks are private.

Under the deal being discussed, the group, which also includes some other ILFC executives, would buy less than 10 percent of the lessor's fleet, one of the sources said on Monday.

ILFC owns a portfolio consisting of more than 1,000 aircraft, with a book value of more than $40 billion.

AIG declined to comment. (Reporting by Paritosh Bansal; Editing by Gary Hill) (For more M&A news and our DealZone blog, go to www.reuters.com/deals)



More from Reuters

Photo

Producer prices surge, factory activity slows

WASHINGTON (Reuters) - U.S. producer prices rose faster than expected in November, while a gauge of manufacturing in the New York state unexpectedly fell this month, creating a potential headache for the Federal Reserve. | Video

» More Top News
Iraq's Oil Minister Hussein al-Shahristani attends a tender in Baghdad June 30, 2009.REUTERS/Thaier al-Sudani

Ready for business

With enough oil deals on the table to quadruple its output capacity, Iraq is in a strong position when it enters quota talks with OPEC. But a number of challenges may unhinge its ambitious plans.  Full Article 

Commodities
In this photo reviewed by the U.S. Military, a guard leans on a fencepost as a Guantanamo detainee (L) jogs inside the exercise yard at Camp 5 detention center, at the U.S. Naval Base in Guantanamo Bay, January 21, 2009. REUTERS/Brennan Linsley/Pool

Life after Guantanamo

Critics are worried that Gitmo prisoners once dubbed "enemy combatants" will be using prisons as pulpits for anti-American rhetoric once they're moved to U.S. soil.  Full Article 

U.S.