NEW YORK CITY (dpa-AFX) - American International Group Inc. (AIG) said that it has priced the sale of 10.68 million ordinary shares of AerCap Holdings N.V. (AER) by means of an underwritten public offering. Closing of this transaction is scheduled for August 24, 2015 and is subject to customary closing conditions. AIG said it will receive net cash proceeds of about $500 million.
After the closing of the sale, AIG will not own any ordinary shares of AerCap.
'The sale of our remaining ordinary shares of AerCap marks a further step in our efforts to enhance intrinsic value. It adds to AIG's financial flexibility and provides us with an opportunity to maximize shareholder value - whether through continued balance sheet optimization and capital management, organic growth investment, or inorganic acquisitions that help us meet our customers' needs,' said Peter Hancock, President and Chief Executive Officer AIG.
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