AIG Gets Delayed Deposit From Buyer Group For Plane Unit
This article is for subscribers only.
American International Group Inc. received a delayed deposit yesterday under the agreement to sell its International Lease Finance Corp. unit to Chinese investors.
The payment was disclosed in a regulatory filing by New York-based AIG, which said last week that the deposit hadn’t been made on schedule. A group led by New China Trust Co. Chairman Weng Xianding agreed in December to buy 80 percent of the Los Angeles-based aircraft lessor for about $4.2 billion in a deal that required a 10 percent deposit.