The Chinese group pursuing a deal worth up to $4.8B to acquire AIG's aircraft leasing unit is leaning on U.S. PR counsel as the acquisition faces scrutiny by U.S. regulators.
A group led by New China Trust announced the deal for International Lease Finance Corp. in December, then the largest acquisition of an American company by a Chinese entity. The New York Times reported at the time that the Chinese government wanted to show its seriousness in pursuing investments outside China so it chose NCT chair Weng Xianding to front the deal.
The Chinese buyers have engaged Brunswick Group for PR support of the deal in the U.S. and China (Hong Kong and Shanghai).
AIG, which was bailed out by taxpayers during the financial crisis, returned to the lobbying scene in January, retaining Patton Boggs to help clear regulatory approval of the ILFC deal.
ILFC made a 10% deposit on the acquisition this week in an escrow account, although it came a week after it was scheduled. Reuters reported the move indicates the Committee on Foreign Investment in the U.S., which is screening the transaction, has decided the deal poses no threat to national security.
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