Treasury to sell remaining AIG shares

The government at one point owned 92% of AIG.

NEW YORK (CNNMoney)

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.

Following completion of the offering, the department will still hold warrants allowing it to purchase AIG stock in the future.

Related: Chinese investors take 80% stake in AIG aircraft leasing unit

An AIG (AIG, Fortune 500) spokesman declined to comment. Shares slid 1.2% in after-hours trading Monday.

In September, the Treasury Department sold $20.7 billion worth of AIG shares, reducing its stake in the company from 53.4% to 15.9%. At that time, Treasury said it and the Federal Reserve together had generated a $15 billion profit on the AIG rescue, having recovered $197 billion on a $182 commitment.

First Published: December 10, 2012: 6:27 PM ET

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