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updated: 9/11/2012 4:18 PM

Gov't receives $2.7B from latest AIG share sale

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  • Associated Press/Aug. 3, 2012Specialist Donald Himpele, foreground second left, resumes trading in AIG stock on the floor of the New York Stock Exchange.

      Associated Press/Aug. 3, 2012Specialist Donald Himpele, foreground second left, resumes trading in AIG stock on the floor of the New York Stock Exchange.

 
Associated Press

WASHINGTON -- The Treasury Department says it has received an additional $2.7 billion from the sale of American International Group stock. The sale comes one day after the government reported a profit on its four-year investment in the bailed-out financial firm. Treasury says the banks underwriting the sale have exercised their option to buy 83.1 million additional AIG shares at $32.50. Together with Monday's $18 billion in stock sales, Treasury says the government has recovered a total $197.4 billion from the company. That's all of its original investment of $182.3 billion plus a return of $15.1 billion to taxpayers.

The sales cut the government's stake in AIG to less than 16 percent. At the height of the financial crisis, the government held a 53.4 percent stake in the company.

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