Exclusive: AIG solicits offers for ILFC after Hazy bid
American International Group Inc is soliciting bids for its International Lease Finance Corp after a group led by the unit's chief offered to buy a small portion of the aircraft lessor's fleet, according to sources familiar with the matter.
AIG has reached out to potential bidders, including those that showed interest in the unit earlier, the sources said. These include Carlyle Group, Terra Firma Capital Partners Ltd and TPG, one of the sources said.
At a time when funding remains hard to come by, Credit Suisse is offering about $2 billion in financing to the ultimate buyer, the sources said.
One of the sources said the amount of financing offered could be larger, depending on how big a stake is eventually sold.
A group led by ILFC Chief Executive Steven Udvar-Hazy has offered to buy about 10 percent of the unit's aircraft portfolio for roughly $4 billion, the sources said.
Udvar-Hazy is backed by a group that includes private equity firms Onex Corp and Greenbriar Equity Group.
AIG and Carlyle declined to comment. Representatives for TPG and Terra Firma did not have immediate comment. The sources are anonymous because the talks are not public.
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