AIG Agrees To Sell ILFC to AerCap
ILFC's portfolio includes Boeing 737-800s. (Photo: Boeing)
ILFC's portfolio includes Boeing 737-800s. (Photo: Boeing)

American International Group has agreed to sell its 100-percent stake in International Lease Finance Corporation (ILFC) to Netherlands-based aircraft leasing firm AerCap Holdings, the companies announced Monday. The total value of the transaction, which includes $3 billion in cash and 97,560,976 newly issued AerCap common shares, total some $5.4 billion based on AerCap’s closing price per share of $24.93 on December 13. Expected to close in the second quarter, the deal effectively ends AIG’s efforts to sell most of ILFC to Chinese investors. Before entering into the agreement with AerCap, AIG terminated the share purchase agreement with Jumbo Acquisition Limited for the sale of up to 90 percent of the common stock of ILFC.