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AIG to sell final AIA stake

The American insurer may make up to $6.5 bil for its remaining 13.69% stake in Asian insurer AIA, according to Reuters sources. AIG has been selling off parts of its business after receiving a huge government bailout in '08. AIG (AIG) said it will use the proceeds from the sale for general corporate purposes. The company has not named any potential buyers. Financial terms were not disclosed. On Fri., the Treasury Dept. sold its final shares of the once-troubled insurer. AIG began selling AIA shares in March and sold more than $2 bil worth of shares in Sept. It wasn't permitted to sell more shares until Dec. 10.