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U.S. Treasury to sell $5 billion of AIG stock

Posted By admin On May 7, 2012 @ 7:52 am In Money Watch,Tile | Comments Disabled

AFP [1]
May 7, 2012

The US Treasury is to sell $5 billion worth of shares in American International Group Inc. (AIG) in a stock offering, with the bailed-out insurer buying $2 billion.

AIG, seen as a symbol of the excesses that epitomized the global financial meltdown in 2008, was saved from almost certain bankruptcy in September that year by the US government.

The Treasury announced in a statement Sunday that it would sell 163,934,426 shares of its AIG common stock at $30.50 per share in an underwritten public offering, its third such sale since the government intervened at the company.

“The aggregate proceeds to Treasury from the common stock offering are expected to be approximately $5.0 billion,” the statement said.

Full article here [1]

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URLs in this post:

[1] AFP: http://www.rawstory.com/rs/2012/05/07/u-s-treasury-to-sell-5-billion-of-aig-stock/

[2] Bank Of Berkshire America: Buffett To Buy $5 Billion In Preferred Stock In Bank Of America: http://www.prisonplanet.com/bank-of-berkshire-america-buffett-to-buy-5-billion-in-preferred-stock-in-bank-of-america.html

[3] Treasury: U.S. to lose $25 billion on auto bailout: http://www.prisonplanet.com/treasury-u-s-to-lose-25-billion-on-auto-bailout.html

[4] Mortgage-backed securities that brought about the financial crisis earned the U.S. Treasury $25 billion: http://www.prisonplanet.com/mortgage-backed-securities-that-brought-about-the-financial-crisis-earned-the-u-s-treasury-25-billion.html

[5] Treasury Prepares To Plunder Another $45 Billion From Retirement Funds As It Issues $110 Billion More Debt Next Week: http://www.prisonplanet.com/treasury-prepares-to-plunder-another-45-billion-from-retirement-funds-as-it-issues-110-billion-more-debt-next-week.html

[6] US Treasury to sell $142 bn worth of toxic assets: http://www.prisonplanet.com/us-treasury-to-sell-142-bn-worth-of-toxic-assets.html

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