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Updated: 21st February 2009, 0245 hrs
Temasek not interested in AIG's aircraft leasing unit: Reuters
Temasek Holdings is said to have dropped out of a race to bid for troubled insurer American International Group or AIG’s aircraft leasing business.
Citing sources familiar with the matter, Reuters news agency said Temasek and Kohlberg Kravis Roberts are no longer interested in AIG’s International Lease Finance Corp (ILFC).
Other parties remain interested, with at least two consortia emerging to make a bid for ILFC.
Carlyle Group is reportedly a member of one of the consortia, while another group is led by private equity firms Greenbriar Equity and Onex Corp.
ILFC is valued by analysts at up to 8 billion US dollars, but has a debt load of 33 billion US dollars.
It needs a buyer with access to cheap capital and a large balance sheet as it borrows money to buy planes before leasing them out.
AIG, once the world's largest insurer, is selling ILFC as part of its effort to pay back the US government after a 150 billion US dollar rescue last year.
Temasek not interested in AIG's aircraft leasing unit: Reuters
Temasek Holdings is said to have dropped out of a race to bid for troubled insurer American International Group or AIG’s aircraft leasing business.
Citing sources familiar with the matter, Reuters news agency said Temasek and Kohlberg Kravis Roberts are no longer interested in AIG’s International Lease Finance Corp (ILFC).
Other parties remain interested, with at least two consortia emerging to make a bid for ILFC.
Carlyle Group is reportedly a member of one of the consortia, while another group is led by private equity firms Greenbriar Equity and Onex Corp.
ILFC is valued by analysts at up to 8 billion US dollars, but has a debt load of 33 billion US dollars.
It needs a buyer with access to cheap capital and a large balance sheet as it borrows money to buy planes before leasing them out.
AIG, once the world's largest insurer, is selling ILFC as part of its effort to pay back the US government after a 150 billion US dollar rescue last year.
