The Treasury Department said Wednesday it is selling $6 billion worth of the $41.8 billion in common stock it holds in insurance giant American International Group Inc., which received the biggest bailout of the financial crisis in 2008.
Insurance giant AIG is taking yet another step on its road to recovery, obtaining $3 billion in credit facilities. The news is sending AIG shares soaring 6 percent in early trading.
Bailed-out U.S. insurer AIG said Tuesday it won't accept lower offer for its Asian insurance business from Prudential, which proposed a $5 billion cut to calm rebellious shareholders who thought the price was too high.
American International Group will sell a second overseas life and health insurance unit for $15.5 billion to MetLife Inc. in an ongoing bid to repay billions in government aid.
British insurer Prudential PLC said Monday it will buy the Asian unit of bailed out American International Group Inc. in a deal worth $35.5 billion that will allow AIG to pay back some of the money it owes U.S. taxpayers.
A House panel probing the bailout of American International Group Inc. is sharpening its questions for two Treasury secretaries and a federal investigator .