American International Group is giving a Chinese-based group until the end of July to come up with the money needed to complete a deal to give their investors 90 percent control of AIG's airplane leasing unit.
AIG agreed in December to sell control of the business, International Lease Finance Corp., in December to a consortium of New China Trust Co., China Aviation Industrial Fund and P3 Investments Ltd.
The revised deal does give AIG the power to consider a public offering and to engage in talks with other potential acquirers for the business during the extension period.
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