Details of a plan to expedite the sell-off of the government’s stake in New York-based American International Group Inc. (AIG) may emerge as early as this week, Bloomberg reports.
Citing unnamed sources with knowledge of the negotiations between the company and regulators, the announcement may entail AIG converting $49 billion in preferred shares currently held by the Treasury into common shares sometime in early 2011. Treasury would then sell the shares on the open market, using any profit recognized to help repay the government for the assistance the company received during the financial crisis.
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access