NEWS IN BRIEF

The asset management unit of New York-based insurer AIG... is to buy a stake in leading Chinese motorcycle maker, Lifan Group. The size of the stake was not disclosed, but Lifan owner Yin Mingsha told Reuters last October that he would not sell more than a 20% stake in the company to outside investors. AIG and Texas Pacific Equity were identified at the time as potential partners. Lifan is reportedly planning an IPO in order to fund its move into the car industry.