NEW YORK--(BUSINESS WIRE)--American International Group, Inc. (NYSE:AIG) announced today that it has priced the sale of 10,677,702 ordinary shares of AerCap Holdings N.V. (NYSE: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 will receive net cash proceeds of approximately $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,” said Peter D. Hancock, President and Chief Executive Officer, AIG. “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.”
AerCap has filed a registration statement (including a prospectus) on Form F-3 with the SEC for the underwritten offering to which this communication relates. The registration statement was declared effective on March 31, 2015. Investors should read the accompanying prospectus dated March 31, 2015, the preliminary prospectus supplement dated August 18, 2015 and other documents AerCap has filed with the SEC for more complete information about AerCap and this offering. These documents may be obtained for free by visiting EDGAR on the SEC's website at www.sec.gov.
Alternatively, copies of the prospectus supplement and accompanying base prospectus relating to the offering, when available, may be obtained from: Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, via telephone: 800-831-9146; and Goldman Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, New York 10282, via telephone: 1-866-471-2526 or via email: prospectus-ny@ny.email.gs.com.
Certain statements in this press release, including the closing of the transaction described herein, constitute forward-looking statements. These statements are not historical facts but instead represent only AIG’s belief regarding future events, many of which, by their nature, are inherently uncertain and outside AIG’s control. It is possible that actual results will differ, possibly materially, from the anticipated results indicated in these statements. Factors that could cause actual results to differ, possibly materially, from those in the forward-looking statements are discussed throughout AIG’s periodic filings with the SEC pursuant to the Securities Exchange Act of 1934.
American International Group, Inc. (AIG) is a leading global insurance organization serving customers in more than 100 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.
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AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries, and coverage is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.
