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