The Wall Street Journal reported, citing two people familiar with matter, that two key members of a Chinese consortium that had agreed to a deal to buy AIG’s aircraft-leasing subsidiary have pulled out, lessening the chances of the deal being done.
The Journal said, citing two of the people, New China Trust and China Aviation Industrial Fund, both pulled out of the group to buy ILFC in May.
The Journal noted that a lack of Chinese government support for the deal was cited by one of the people as one of the reasons why the pair withdrew, but a third person said that AIG is still negotiating to sell International Lease Finance to the consortium.
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