8-KMaterial AgreementsExhibits & Filings

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Material Agreement (Jun 17, 2013)

Filed June 17, 2013For Securities:AIG

Summary

This Form 8-K filing by American International Group, Inc. (AIG) on June 17, 2013, pertains to an amendment to a material definitive agreement. Specifically, it announces an amendment to the Share Purchase Agreement for the sale of up to 90.0% of International Lease Finance Corporation (ILFC) common stock from AIG Capital Corporation (a subsidiary of AIG) to Jumbo Acquisition Limited. The primary impact of this amendment is the extension of the termination date for the Share Purchase Agreement by one and a half months, pushing it to July 31, 2013. This extension provides additional time for the closing of the transaction. AIG and its subsidiary retain the flexibility to explore alternative offers for ILFC or pursue a public offering, though with certain restrictions on engaging in definitive agreements or widespread solicitation. The amendment also adjusts the deadline for the Purchaser to deliver an Option Notice to July 15, 2013. Investors should monitor further developments regarding this significant divestiture.

Key Highlights

  • 1AIG amended the Share Purchase Agreement for the sale of up to 90.0% of International Lease Finance Corporation (ILFC) shares.
  • 2The closing deadline for the ILFC sale to Jumbo Acquisition Limited has been extended to July 31, 2013.
  • 3AIG and its subsidiary can continue to explore alternative offers for ILFC or a public offering, subject to certain conditions.
  • 4The deadline for the Purchaser to deliver the Option Notice is now July 15, 2013.
  • 5The amendment provides additional time for regulatory approvals and other closing conditions.
  • 6This filing indicates ongoing efforts to divest ILFC, a significant strategic move for AIG.

Frequently Asked Questions

The main purpose of this 8-K filing is to report an amendment to the Share Purchase Agreement concerning the sale of up to 90.0% of International Lease Finance Corporation (ILFC) by AIG Capital Corporation to Jumbo Acquisition Limited.

The amendment extends the date by which AIG, its subsidiary, or the Purchaser may terminate the agreement if the closing has not occurred from the previous deadline to July 31, 2013, providing an additional one and a half months.

Yes, under the amendment, AIG and its subsidiary may continue to explore other offers for ILFC or consider a public offering as an alternative, with some restrictions on definitive agreements or broad solicitation.

The date by which the Purchaser may deliver the Option Notice to AIG and Seller has been changed to July 15, 2013.