AIG Sells Shares to Pay $6 Billion Toward US Bailout Tab

AIG Sells Shares to Pay $6 Billion Toward US Bailout Tab

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AIG logoAmerican International Group Inc. is selling part of its stake in AIA Group Ltd. to raise $6 billion as it continues to repay the government bailout that prevented the company’s collapse during the 2008 financial crisis.

AIG has been steadily paying back its debt and according to a government watchdog, owed U.S. taxpayers $50 billion as of Dec. 31.

 

(READ the AP story at STLouisToday.com)

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