WASHINGTON: The US Treasury is to sell $5 billion worth of shares in American International Group Inc. (AIG) in a stock offering, with the bailed-out insurer buying $2 billion.
AIG, seen as a symbol of the excesses that epitomized the global financial meltdown in 2008, was saved from almost certain bankruptcy in September that year by the US government.
The Treasury announced in a statement Sunday that it would sell 163,934,426 shares of its AIG common stock at $30.50 per share in
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