AIG deal back on track

Insurance giant AIG (AIG.NYSE) said it received a delayed deposit from Chinese investors Wednesday regarding the acquisition of its International Lease Finance (ILF) branch, Bloomberg reported. New York-based AIG said last week that the payment was behind schedule and had not been made. The Chinese group, led by New China Trust, agreed to buy 80% of ILF, a Los Angeles-based aircraft lessor, for US$4.2 billion, with the deal requiring a 10% deposit. The delayed deposit transaction is pending approval from US and Chinese regulators. Last week’s missed payment may have reflected “administrative” delays in China, rather than hesitation from the buyer, said sell-side research firm Sanford C Bernstein in a June 2 note.