logo
Share SHARE
FONT-SIZE Plus   Neg

AIG Announces Completion Of U.S. Treasury's $7.6 Bln Offering Of Stock

American International Group Inc. (AIG) announced the completion of an offering of approximately 234.2 million shares of AIG common stock by the U.S. Department of the Treasury. Treasury received proceeds of approximately $7.6 billion from the sale.

The company said that the sale of these shares - the last of Treasury's remaining shares of AIG - marks the full resolution of America's financial support of AIG.

Since September 2008, America committed a total of $182.3 billion in connection with stabilizing AIG during the financial crisis. Since then, through asset sales and other actions by AIG, the Federal Reserve, and Treasury, America recovered its $182.3 billion plus a combined positive return of $22.7 billion.

Beginning in May 2011, Treasury sold approximately 1.7 billion shares of AIG common stock in six public offerings for total proceeds of approximately $51 billion, including approximately $13 billion purchased by AIG. Treasury continues to hold warrants to purchase approximately 2.7 million shares of AIG common stock.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
A California man has filed a lawsuit against McDonald's alleging that the fast food giant is defrauding customers by cramming its mozzarella sticks with filler instead of real cheese. Chris Howe is seeking at least $5 million in damages on behalf of consumers in 42 states and the District of Columbia. The... Jeep, the 4x4 vehicles, which has developed a strong bond with its masters, is aggressively on an expansion mode in its 75th anniversary year. Its fans have always been in love with the famous tag "Go Anywhere, Do Anything." Meat products maker Tyson Foods Inc. (TSN) reported a profit for the first-quarter that increased 49% from last year. It raised its profit outlook for fiscal year 2016 ,but it cut its annual sales guidance.
comments powered by Disqus
RELATED NEWS
Trade AIG now with 
Follow RTT