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updated: 8/6/2012 12:59 PM

Treasury to receive $750M more from AIG stock sale

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  • FILE - In this Sept. 17, 2008 file photo, the AIG logo is shown in New York. Bailed-out insurance conglomerate American International Group Inc. is taking a key step toward paying off a bailout that was at one point worth $182 billion _ the largest of the financial crisis. The company says in a public filing Wednesday, Dec. 8, 2010, that it will repay a loan from the Federal Reserve Bank of New York. (AP Photo/Mark Lennihan, File)

      FILE - In this Sept. 17, 2008 file photo, the AIG logo is shown in New York. Bailed-out insurance conglomerate American International Group Inc. is taking a key step toward paying off a bailout that was at one point worth $182 billion _ the largest of the financial crisis. The company says in a public filing Wednesday, Dec. 8, 2010, that it will repay a loan from the Federal Reserve Bank of New York. (AP Photo/Mark Lennihan, File)

 
Associated Press

WASHINGTON -- The government says it expects to receive $750 million from the latest sale of stock held in American International Group. The sales are part of an effort to recoup taxpayer money from the largest bailout of the 2008 financial crisis.

The Treasury Department says the banks underwriting the sale have exercised their option to buy 24.6 million AIG shares at the offering price of $30.50 each.

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Treasury says it has received $23.3 billion from four sales of AIG stock.

Treasury and the Federal Reserve stepped in with $182 billion to rescue New York-based AIG from collapse in September 2008. Treasury's portion of the bailout was $47.5 billion. With the latest sale, AIG still owes taxpayers about $24 billion on the original investment, according to Treasury estimates.

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