AIG is mulling selling a 25% stake in its airplane-leasing operation through an initial public offering (IPO), The Wall Street Journal reports. The IPO of the leasing business, known as International Lease Finance (ILFC), may raise as much as $2 billion.
AIG is expected to select four investment banks to lead the potential deal. The sale proceeds will be used by the U.S. government to help repay taxpayers for the AIG bailout. The Treasury is seeking to recover $11.3 billion from AIG asset dispositions in addition to $41.8 billion from selling its remaining 77% stake in the insurer.
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