The U.S. Department of the Treasury has received payment from its final sale of American International Group (AIG) common stock.
According to a Treasury press statement, the department and the Federal Reserve have ‘fully recovered the combined $182.3 billion they committed to stabilize AIG during the financial crisis – with an additional $22.7 billion positive return.’ On Dec. 11, the Treasury announced that it had agreed to sell its remaining 234 million shares of AIG common stock at $32.50 per share – the $7.6 billion in proceeds from which it received today.
Over the last two years, the Treasury has conducted six public offerings of AIG common stock through which it sold 1.655 billion shares at an average price of $31.18 per share. After this transaction, the Treasury will continue to hold warrants to purchase approximately 2.7 million shares of AIG common stock.