Treasury Sells Big Chunk of AIG Stock at a Profit
Filed under: American International Group, Market News
By Lauren Tara LaCapra and Olivia Oran
Sept 10 (Reuters) – The U.S. government cut its stake in American International Group Inc (AIG) to about 21.5 percent on Monday, making a profit of $12.4 billion on the insurer’s crisis-era bailout and bringing the unpopular rescue closer to its end.
The Treasury Department sold $18 billion worth of the insurer’s shares at $32.50 apiece, in what could yet be the largest ever secondary offering in U.S. history. The underwriters have the option to buy…
Treasury Sells Big Chunk of AIG Stock at a Profit originally appeared on DailyFinance.com on 2012-09-11T15:50:00Z.
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