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Share Name | Share Symbol | Market | Type |
---|---|---|---|
American International Group Inc | NYSE:AIG | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
1.01 | 1.29% | 79.11 | 78.86 | 76.22 | 77.76 | 6,715,713 | 01:00:00 |
By Maria Armental
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 maria.armental@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
August 18, 2015 18:20 ET (22:20 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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