AIG to Sell Remaining AerCap Shares

AIG to Sell Remaining AerCap Shares

The FINANCIAL -- American International Group Inc. on August 18 filed documents to sell its remaining 10.7 million shares in aircraft-leasing company AerCap Holdings NV as part of its exit from aircraft leasing, according to Nasdaq.

The insurance company, which held a 5.4% stake in the Dutch company as of June 30, had already sold most of its AerCap shares in a secondary public offering June 9.

AIG bought about 97.6 million shares—roughly 46% of AerCap's ordinary shares—when it sold its plane rental business to AerCap in a cash and stock deal valued at $7.6 billion at the time.

AIG, which received one of the largest financial-crisis taxpayer bailout packages, repaid the $185 billion aid package in 2012 and has since returned to profit as a more narrowly focused insurer.

In the most recent period, it reported a 5.4% increase in operating profit, topping the Wall Street consensus, though its net income fell 41%. The year-earlier results had been bolstered by the sale of the aircraft-leasing business.