In a regulatory filing, American International Group said its escrow agent has advised that it received the deposit amount as defined in its share purchase agreement with Jumbo Acquisition Limited relating to the sale of up to 90% of International Lease Finance.
In a related story, Reuters said the Chinese consortium buying ILFC placed about 10% of the purchase price in an escrow account. The deposit also indicated that the U.S. government’s Committee on Foreign Investment in the U.S. had decided that the deal posed no threat to national security, according to a source familiar with the situation and a review of the contract between AIG and the buyers.
The ILFC buying consortium includes New China Trust, one-fifth owned by Barclays, China Aviation Industrial Fund, and P3 Investments.
Previous on monitordaily: Chinese Group Misses Payment in ILFC Sale Deal, June 3, 2013.
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