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American International Group, Inc. Message Board

  • sew1959a sew1959a Mar 1, 2013 6:40 PM Flag

    AIG warrant buyback closes govt. stake-link

    By Sital S. Patel AIG

    38.5038.0037.5037.0010a11a12p1p2p3p4p5p6pNEW YORK (MarketWatch) -- American International Group, Inc. /quotes/zigman/557836/quotes/nls/aig AIG -0.42% said Friday it has bought back the last of the warrants it issued to the U.S. government, the final stake in the company still held by the government. The insurance giant paid $25 million to the U.S Treasury Department for the repurchase of the warrants issued in 2008 and 2009. AIG was bailed out by the government during the financial crisis as the firm headed towards bankruptcy. The firm returned the $182 billion borrowed from the government during the financial crisis, and a profit $27.7 billion, said Chief Executive Robert H. Benmosche. AIG shares were down 0.5% in trading.

    Sentiment: Hold

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