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Bank of China to Purchase AIG’s International Leasing Business

The State’s central bank, Bank of China, is said to have expressed interest in acquiring international leasing business of American International Group for $100 Million, Caihua (Hong Kong) reported.  Earlier Vice President of Bank of China Zhu Min indicated that the bank will proactively seek opportunities to acquire U.S. financial institutions.  In 2006 Bank of China acquired 100% of the issued share capital of Singapore Aircraft Leasing Enterprise (SALE) for US$965 million, and has now become the largest aircraft leasing company in Asia.

Source: Caihua, October 2, 2008