The government’s sale of American International Group Inc. stock will generate an additional $2.7 billion to boost the profit to U.S. taxpayers to $15.1 billion on the insurance giant’s bailout, the Treasury Department said Tuesday.
Underwriters of the Treasury’s AIG stock offering this week exercised their option to buy additional shares, bringing the total amount of sale proceeds to $20.7 billion.
The sale, which will be completed this week, will end the government’s majority ownership of the company, reducing the government stake to 15.9 percent from 53.4 percent, the Treasury Department said.
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