NEW YORK (AP) — AIG says it is in talks with a Chinese investor group to sell a controlling stake in its jet leasing business.
American International Group Inc. said Friday that the talks to sell a 90 percent stake in its International Lease Finance Corp. business are with a group led by New China Trust Co. Ltd., New China Life Insurance Co. Ltd., P3 Investments Ltd. and China Aviation Industrial Fund.
Recommended Stories
AIG has said its jet leasing business is a non-core asset. It filed plans last year to take it public. The New York-based insurer has been selling off subsidiaries to raise money to pay back its $182 billion bailout from the government during the economic meltdown.
AIG provided no other details on a potential sale. Shares of AIG rose nearly 2 percent.
