Treasury to sell remaining AIG shares

By James O'Toole @CNNMoney December 10, 2012: 6:34 PM ET

NEW YORK (CNNMoney)

The Treasury Department announced plans Monday to sell the last of its shares in bailed-out insurer AIG.

The planned offering comes four years after AIG was crippled by the financial crisis and required a government bailout that eventually swelled to $182 billion. The government at one point owned 92% of the firm.

Treasury now owns 15.9% of AIG, or 234.2 million shares. The department did not reveal an offering price for these shares, though they're worth $7.8 billion at Monday's closing price of $33.36.

Following completion of the offering, the department will still hold warrants allowing it to purchase AIG stock in the future.

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