AIG selling $6 billion of AIA shares, to repay bail-outWow! AIG wants to raise $6Bn to start to repay ME... for my $182Bn investment. Great! I feel so lucky!!!
Denny Thomas and Clare Baldwin | Reuters
4 March 2012
HONG KONG (Reuters) - American International Group (AIG) is looking to raise about $6 billion by selling part of its stake in Asia subsidiary AIA Group <1299.HK> in a long-awaited move to help the U.S. insurer repay a federal government bail-out.
The U.S. Treasury owns 77 percent of AIG following a massive $182 billion bailout in the wake of the 2008 global financial crisis. AIG holds around a one-third stake in AIA which, at Friday's close, was worth a little over $15 billion.
When should I expect to see the other $176Bn?????