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Stock Market & Financial Investment News

News Breaks
December 9, 2012
20:00 EDTAIGAIG announces agreement to sell up to 90% of ILFC
American International Group and an investor group led by Mr. Weng Xianding, the Chairman of New China Trust Co. Ltd., announced that they have entered into an agreement under which AIG will sell up to a 90% stake in International Lease Finance Corporation, ILFC, a non-core asset, to the investor group in a transaction that values ILFC at approximately $5.28B. The investor group comprised of New China Trust, China Aviation Industrial Fund and P3 Investments Ltd. has agreed to acquire 80.1% of ILFC for approximately $4.23B, with an option to acquire an additional 9.9% stake. Upon receipt of required Chinese regulatory approvals and exercise of the option, the investor group is expected to be expanded to include New China Life Insurance and an investment arm of ICBC International. The transaction, which is expected to close in Q213, marks another success in the disposition of AIG’s non-core assets. At closing of the transaction, AIG will retain at least a 10% ownership stake in ILFC, allowing it to continue to participate in the growth of ILFC’s unique franchise, including the benefits that the investor group will bring to the company.
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October 21, 2014
14:09 EDTAIGThird Point discloses new positions in eBay, Alibaba, exit from Sony
In its Q3 investor letter, Third Point says it established a "significant" position in eBay (EBAY). Dan Loeb's hedge fund also revealed it has established a significant direct investment in Alibaba (BABA) shares now that the company is public. Third Point also said it is now one of Amgen's (AMGN) largest shareholders. During the quarter, Third Point exited its position in Sony (SNE) and reduced or exited other positions, including AIG (AIG), Hertz (HTZ) and Softbank (SFTBF), the firm stated in its letter. PRICE ACTION: Following the disclosures in the Third Point letter, Amgen is up 4%, eBay is up 2.3% and Alibaba is up 3.8%, while Sony shares trading in New York are down nearly 1%.
October 20, 2014
06:38 EDTAIGAIG upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded AIG to Buy citing valuation following the recent pullback in shares. Deutsche believes concerns that Starr International could succeed in its trial against the U.S. Government are overblown. It raised its price target for AIG shares to $60 from $59.
October 17, 2014
08:14 EDTAIGAIG unlikely to be forced to indemnify government, says Bernstein
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