BUSINESS

AIG Bailout Earns U.S. Treasury $15.1 Billion Profit After Selling Shares

09/10/2012 09:19 pm ET | Updated Nov 10, 2012

(Reuters) - The U.S. Treasury said on Tuesday that it expects to raise an additional $2.7 billion from its American International Group stock sale, allowing the United States to earn $15.1 billion from bailing out the insurer.

Underwriters have exercised their overallotment option to buy additional shares of AIG, the department said. Over the weekend, the Treasury had agreed to sell about 553.8 million shares of AIG, slashing the government's stake in the insurer to 15.9 percent from 53.4 percent.

Suggest a correction