Treasury to Sell Last of AIG Shares
234.2 million shares, 15 percent of the bailed-out insurer
The Treasury Department announced plans Monday to sell the last of its shares in bailed-out insurer AIG.
The planned offering comes four years after AIG was crippled by the financial crisis and required a government bailout that eventually swelled to $182 billion. The government at one point owned 92% of the firm.
Treasury now owns 15.9% of AIG, or 234.2 million shares. The department did not reveal an offering price for these shares, though they're worth $7.8 billion at Monday's closing price of $33.36.