(By Balachander) American International Group Inc. (NYSE: AIG) confirmed that it is in talks to sell a 90 percent interest in International Lease Finance Corp. (ILFC) to an investor group.
The investor group is led by New China Trust Co. Ltd., New China Life Insurance Co. Ltd. and P3 Investments Ltd., together with China Aviation Industrial Fund and an investment arm of ICBC International.
The New York-based insurer has consistently stated that its ILFC subsidiary a non-core asset.
ILFC is the world's largest independent aircraft lessor, as measured by number of aircraft owned, claims AIG on its website, with portfolio consisting of more than 1,000 owned and managed aircraft. ILFC's technologically advanced and environmentally efficient aircraft portfolio includes 787s and A350s.
[Related -American International Group Inc (AIG): Current Weakness Offers A Buying Opportunity]
Any possible transaction involving ILFC would be subject to required regulatory approvals, including those in the U.S. and China, and customary closing conditions, the company noted.
AIG shares, which have been trading in the 52-week range of $22.19 to $37.67, traded 2.10 percent higher at $33.96 on Friday.