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AIG sale of ILFC has May 15 deadline: filing
December 10, 2012 / 1:43 PM / 5 years ago

AIG sale of ILFC has May 15 deadline: filing

(Reuters) - American International Group Inc (AIG.N) and the Chinese consortium buying its plane leasing business ILFC would have the right to terminate the deal if it had not closed by May 15 of next year, AIG said in a regulatory filing on Monday.

AIG said it would also retain the right to at least one seat on ILFC’s board as long as it retained around a 5 percent stake in the company.

Reporting By Ben Berkowitz; Editing by Gerald E. McCormick

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