Chinese Consortium To Buy AIG Leasing Unit, Yara Buys Bunge Division: M&A Recap

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According to knowledgeable sources, a consortium led by New China Trust Co. and its chairman Weng Xianding is in discussions to purchase a controlling interest in American International Group’s (NYSE:AIG) aircraft-leasing division, International Lease Finance Corp. The group includes China Aviation Industry Fund and Industrial & Commercial Bank of China, together with ILFC’s management. A transaction could value ILFC at around $5.5 billion, say the sources. Based on that valuation, such an acquisition could represent the largest Chinese takeover in the United States, potentially surpassing China Investment Corp.’s $3 billion purchase of an interest in The Blackstone Group (NYSE:BX) in 2007, according to data compiled by Bloomberg.

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In a Friday press release, Bunge Limited (NYSE:BG) said that it will divest its fertilizer unit in Brazil to Yara International (YARIF.PK)(YARIY.PK) for $750 million in a cash transaction. The deal includes blending facilities, brands and warehouses, and the parties also enter into a long-term fertilizer supply agreement, which permits Bunge to continue to provide fertilizer to farmers through its grain origination activities. In addition, Bunge will keep and continue to operate its fertilizer terminal in the Port of Santos.

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