New York-based American International Group and the U.S. Treasury Department have announced plans to sell 100 million shares and 200 million shares, respectively, of AIG common stock.
With AIG shares currently trading around $30, the sale is expected to net $9 billion while reduce Treasury’s voting stake in the company to 77% from 92%. However, the news cast new doubts on whether the government will be able to recoup all of the $182 billion in bailout funds AIG received during the financial crisis. The stock sale was first plotted in September 2010, when AIG announced a plan to expedite repayment of its debt to the federal government.
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