On Air Now

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 590 AM Kalamazoo, MI

Weather

Current Conditions(Kalamazoo,MI 49001)

More Weather »
67° Feels Like: 67°
Wind: NNE 0 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Partly Cloudy 82°

Tonight

Isolated Thunderstorms 63°

Tomorrow

Thunderstorms 84°

Bidders for AIG unit ILFC in talks with financiers - Bloomberg

The American International Group, Inc. (AIG) stock ticker is seen on a monitor as traders work on the floor of the New York Stock Exchange a
The American International Group, Inc. (AIG) stock ticker is seen on a monitor as traders work on the floor of the New York Stock Exchange a

(Reuters) - Taiwanese tycoon Richard Tsai and Chinese financier Xiao Jianhua are in talks to help fund a long-delayed $4.2 billion purchase of U.S. insurer American International Group Inc's aircraft-leasing unit, Bloomberg reported.

Tsai's family and companies it controls could take a majority stake in the group that has agreed to buy International Lease Finance Corp (ILFC), Bloomberg said, citing three people with knowledge of the matter.

Tsai and Xiao's involvement may help the group, which has been led by Hong Kong-based P3 Investments Ltd, bridge a funding gap that has held up the deal for several months, Bloomberg reported. (http://link.reuters.com/xek74v)

Xiao would mainly be involved in providing financing, Bloomberg said.

ILFC is one of the biggest aircraft lessors in the world but has recorded big write-downs in recent years on the value of the older planes in its fleet.

None of the parties mentioned in the report were reachable for comment by Reuters.

(Reporting by Varun Aggarwal in Bangalore)

Comments