Treasury sells remaining shares of AIG

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Associated Press

Posted on December 11, 2012 at 7:36 AM

Updated Tuesday, Dec 11 at 8:04 AM

WASHINGTON (AP) — The Treasury Department says it has sold all of its remaining shares of American International Group, moving to wrap up the government's biggest bailout of the 2008 financial crisis.

Treasury said it received $32.50 per share for its 234.2 million remaining shares, which represented a 16 percent ownership stake in the giant insurance company.

With this sale, Treasury said the government has received $22.7 billion more than the $182 billion bailout it provided to support AIG during the height of the financial crisis.

It was the largest government bailout package, including both loans and federal guarantees.

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