August 7, 2013 / 10:19 AM / 4 years ago

AIG extends deadline on sale of $4.8 billion aircraft leasing unit: Basis Point

The logo of American International Group (AIG) is seen at their offices in New York in this file photograph from September 18, 2008. REUTERS/Eric Thayer/Files

HONG KONG (Reuters) - U.S. insurer American International Group Inc (AIG.N) has extended the deadline for the sale of its $4.8 billion ILFC aircraft leasing unit to a Chinese consortium to August 31, Basis Point, a Thomson Reuters publication, reported on Wednesday, citing sources.

AIG Chief Executive Bob Benmosche said last week on a post-earnings conference call that the company was open to an initial public offering of the unit if a deal does not go through.

The Chinese consortium, which has missed earlier deadlines, includes P3 Investments, New China Trust Co, one-fifth owned by Barclays Plc (BARC.L) and China Aviation Industrial Fund.

Reporting by Jacqueline Poh of Basis Point; Writing by Stephen Aldred; Editing by Matt Driskill

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