Sources said that American International Group is close to a deal to make its exit from International Lease Finance Corp. to Netherlands' AerCap Holdings NV. Under the deal, AIG will reportedly receive $3 billion in cash and $2.4 billion in stock.
Tags: American International Group Inc
United Guaranty, Mortgage Insurer of AIG Files For IPO With NYSE
AIG has announced in January planning for spinning off its mortgage insurer unit United Guaranty, following pressure from the shareholders. Following the announcement, Standard & Poor’s, a credit rating agency has downgraded its rating with specific reasoning. The mortgage insurer of AIG has disclosed through a regulatory filing that it intends to go for an initial public offering.
MetLife Approaches With Breakup Plan Since Washington Court Declares SIFI Label Unlawful
MetLife has announced in January planning for selling large portion of its US insurance unit. But the move has been suspended following imposition of designation as SIFI by FSOC. However, the FSOC move has been declared unlawful by a Washington court which paves the way for MetLife to go with its breakup planning.
MetLife profit drops 43% on weaker investment yield, tax hit
MetLife Inc suffered 43 percent drop in profit for the third quarter due to bleak investment results and tax costs associated with the UK subsidiary which impacted the financial performance of the largest life insurer in the US.
Warren Buffett denies that Berkshire Hathaway 'too big to fail'
Warren Buffett on Saturday rejected the idea that Berkshire Hathaway Inc, a sprawling conglomerate he has built over 50 years, has grown so big that it is now too big to fail and requires tighter regulatory oversight.
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The following bids, mergers, acquisitions and disposals were reported on Friday including ITC Holdings, Dave & Buster, Time Warner Cable, Banca Etruria, Cube Capital, Cargolux, Simon Property and Versace.
Sources who were familiar with the proceedings said the bidding group who planned to buy the aircraft-leasing unit of American International Group Inc would be welcoming Chinese financier Xiao Jianhua and Taiwanese tycoon Richard Tsai as its additional partners.
The New York Department of Financial Services and the Manhattan District Attorney's Office are conducting inquiries and may subject both AIG and MetLife to fines.
AIG announced that they are resuming talks with a Chinese group regarding the sale of its aircraft leasing unit.
American International Group Inc is looking to pursue an IPO for its subsidiary unit after the sale to a Chinese group stalled.
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