AIG, the once troubled financial institution reached a deal to sell its controlling interest in International Lease Finance Corp to AerCap for $5.4 billion in cash and stock.
Total compensation for the deal is $3 billion in cash and roughly 98 million newly issued AerCap common shares, giving the deal a total value of about $5.4 billion.
The transaction is expected to close in the second quarter of 2014. It marks the last major disposition of AIG’s non-core assets.
Last December the US Treasury release and accounting of the government’s involvement in AIG.
AIG was provided by Treasury and the Federal Reserve Bank of New York a total $182.3 billion, which AIG paid back a total $205 billion, for a total positive return, or profit, to the government of $22.7 billion.