Tags: AIG | Toxic | Asset | Bailout

Report: AIG May Sell Stakes in Toxic Asset to Pay Bailout

Wednesday, 14 Jul 2010 02:30 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
American International Group has floated a plan to partially pay down its U.S. bailout debt by selling stakes in two entities that were created to take toxic assets off its books, Bloomberg said Wednesday.

AIG valued its stakes in the entities, Maiden Lane II and Maiden Lane III, at $6.2 billion at the end of March, up $900 million from the end of 2009, according to a U.S. Securities and Exchange Commission filing.

AIG has been in talks with the U.S. Treasury Department about the plan, which is in early stages, Bloomberg reported, citing unnamed sources.

AIG, which is nearly 80 percent owned by the U.S. government after receiving a $182.3 billion aid package, declined to comment.

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 

You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved