AIG to Sell Remaining AerCap Shares

American International Group Inc. on Tuesday 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.

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.

Write to Maria Armental at [e-mail]

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August 18, 2015 19:25 ET (23:25 GMT)

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