AIG is selling its rail-car leasing unit, AIG Rail Services, to an affiliate of financial services firm, Perella Weinberg Partners. The financial details of the deal have not been disclosed, but it is said to be valued at $600m, adds Bloomberg. As part of the deal, AIG Rail Services will be converted into a limited liability company and will continue operations under the name Flagship Rail Services. AIG Rail Services president and CEO, Eugene Henneberry, will continue in his role.
Click here for the release from Business Wire.
Click here for additional coverage from Bloomberg.