Business

AIG stock nets US $2.7b more

WASHINGTON — The Treasury Department says it has received an additional $2.7 billion from the sale of American International Group stock. The sale comes one day after the government reported a profit on its four-year investment in the bailed-out financial firm.

Treasury says the banks underwriting the sale have exercised their option to buy 83.1 million additional AIG shares at $32.50. Together with Monday’s $18 billion in stock sales, Treasury says the government has recovered a total $197.4 billion from the company. That’s all of its original investment of $182.3 billion plus a return of $15.1 billion to taxpayers.

Advertisement

The sales cut the government’s stake in AIG to less than 16 percent. At the height of the financial crisis, the government held a 53.4 percent stake in the company.

Associated Press

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
We hope you've enjoyed your free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com