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Alternatives considered for sale of ILFC
27 August 2009
The sale of ILFC could be moving in a different direction from a 100% sale of the company as alternatives are considered.
Read more:
ILFC
Onex
Greenbriar
AIG
The deal to buy International Lease Finance Corporation (ILFC) is rumoured to have been put on hold after the US government and private equity buyers, Onex and Greenbriar Equity Group, could not agree on a purchase price, according to industry sources.
"Before it was clearly an M&A [mergers and acquisitions] process, where they were going to do a sale," says a source close to the deal. "For the first time they are really considering possibilities besides selling the company."
The aircraft lessor, owned by troubled insurer American International Group (AIG), has been for sale since late 2008. Preferred bidders, Onex and Greenbriar, were chosen in June beating other private equity companies such as Carlyle and TH Lee.
"Because of the level of the bids and the conditions of the bids they've been forced to...
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