Bargain hunters could snag some good deals by buying parts of troubled American International Group Inc.’s profitable subsidiaries in Los Angeles and around the world, market analysts predicted.
Top-earning units that could be up for grabs in the state include 21st Century Insurance Co. of Woodland Hills, the state’s seventh-largest automobile insurer, and International Lease Finance Corp. of Century City, which owns more than 950 commercial airliners.
Insurance industry observers are sure there will be a sell-off of some of AIG’s life, property and commercial insurance units. But aviation experts remain less certain about the fate of the company’s giant aircraft leasing business.
Steven Udvar-Hazy, the co-founder of the unit who sold it to AIG in 1990 for $1.3 billion, is reportedly scrambling to put together investors to buy back the firm.
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