19 August 2015

AIG exits aircraft leasing company

American International Group (AIG) is to sell its remaining 10,677,702 ordinary shares in aircraft-leasing company AerCap Holdings by means of an underwritten public offering.

Closing of the transaction is scheduled for 24 August. AIG will receive net cash proceeds of approximately $500m. After the closing of the sale, AIG will not own any ordinary shares of AerCap.

The insurance company, which held a 5.4% stake in the Dutch company on 30 June, had already sold most of its original 46% stake in AerCap.

"The sale of our remaining ordinary shares of AerCap marks a further step in our efforts to enhance intrinsic value," said Peter Hancock, president and CEO, AIG. "It adds to AIG's financial flexibility and provides us with an opportunity to maximise shareholder value – whether through continued balance sheet optimisation and capital management, organic growth investment, or inorganic acquisitions that help us meet our customers' needs."

Latest Stories
  • MEAG completes forest deal in Sweden

    23 May 2025

    Leads consortium alongside Soya Group, in first Swedish transaction

  • Mirova to merge with sister firm Thematics AM

    23 May 2025

    Also announces $10m debt financing deal with clean energy provider EDF Renewables

  • PGIM Real Estate extends $141m to refinance Bronx multifamily portfolio

    23 May 2025

    Floating-rate financing provided to Longacre Group for 2,021-unit affordable housing portfolio

  • Chart of the Week - Dissection of UK life firms' market risk SCR

    23 May 2025

    Insurance Risk Data makes a pinpoint breakdown of UK market risk

  • Dividends from alternatives to thank for wider interest rate spread at Japan Post Insurance

    23 May 2025

    JPI initiated currency swap transactions in October for bond holdings

Cookies on Insurance Asset Risk

This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here