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 Treasury Receives Payment From Its Final Sale of AIG Common Stock, Bringing Positive Return on Overall AIG Commitment to $22.7 Billion


12/14/2012
 

Treasury Now Owns Zero Shares of AIG Common Stock – Down from 1.655 Billion Shares in January 2011

 

WASHINGTON – The U.S. Department of the Treasury announced that it today received payment from its final sale of AIG common stock. With the proceeds received today, the Treasury and the Federal Reserve have fully recovered the combined $182.3 billion they committed to stabilize AIG during the financial crisis – with an additional $22.7 billion positive return.

On December 11, 2012, Treasury announced that it had agreed to sell its remaining 234 million shares of AIG common stock at $32.50 per share – the $7.6 billion in proceeds from which it received today.

Treasury now owns zero shares of AIG common stock, down from 1.655 billion shares (92 percent of outstanding common stock) in January 2011. Over the last two years, Treasury has conducted six public offerings of AIG common stock through which it sold 1.655 billion shares at an average price of $31.18 per share.

After today’s transaction, Treasury will continue to hold warrants to purchase approximately 2.7 million shares of AIG common stock – the sale of which will provide an additional positive return to taxpayers. For additional details on the effort to fully recover the Treasury and Federal Reserve’s combined $182.3 billion commitment to stabilize AIG during the financial crisis – plus a profit for taxpayers – please visit, link.

Today’s announcement is part of Treasury’s ongoing efforts to wind down the Troubled Asset Relief Program (TARP). Including today’s proceeds, more than 90 percent ($380 billion) of the $418 billion funds disbursed for TARP have already been recovered to date through repayments and other income. For more details on Treasury’s lifetime cost estimates for TARP programs, please visit Treasury’s Monthly 105(a) Report to Congress on TARP at this link.

 

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