AIG(AIG Quote) plans to unveil a major restructuring plan by early Monday morning that will likely include the sale of its aircraft-leasing unit and other assets, The Wall Street Journal reported on its Web site Sunday.
Managers at the nation's No. 1 insurer were trying to put together the plan Sunday afternoon and present it to the company's board for approval, the Journal reported, citing people familiar with the situation.
AIG, which has already raised $20 billion in fresh capital in 2008, was also talking to several private equity firms about getting more capital and was hoping to raise more than $10 billion, the Journal added.
In addition to its aircraft-leasing arm, AIG was considering selling off assets related to property and casualty insurance, the Journal reported. ...
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