Treasury to sell remaining AIG shares for $7.6 billion
Tuesday, December 11, 2012 11:20 AM
The U.S. Treasury Department's sale of its remaining stake in American International Group Inc (AIG) will fetch $7.6 billion, bringing the government a total profit of $22.7 billion from its crisis-era bailout of the insurer, Reuters reported. The share offering will close the chapter on one of the most politically contentious rescues of 2008, which ultimately gave AIG up to $182 billion of government support. AIG said on Tuesday that the Treasury Department agreed to sell 234.2 million shares to investors for $32.50 apiece. The insurer said the Treasury has additional AIG warrants that it can sell to boost the government's $22.7 billion of total returns so far.