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
Amazon.com Inc. is working on developing a pair of smart glasses that would allow to summon and interact with virtual assistant Alexa while wearing the device, the Financial Times reported, citing people familiar with the plans. The glasses, which would be required to be connected wirelessly to a smartphone to work, is reportedly designed to look like a regular pair of spectacles. Employees at Bombardier Inc.'s aerospace plant in Toronto plan to walk out of the facility on Wednesday morning. The move is an attempt to put pressure on Boeing Co. to drop a trade complaint against the Canadian plane and train maker. The Baltimore Ravens, a professional American football team, postponed its "DNA Day" event just hours before this season's home opener last Sunday. Orig3n Inc., a Boston-based biotech company sponsoring the event, said in a statement that it is "working to address questions from officials from the state of Maryland."
comments powered by Disqus
Follow RTT