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AIG Completes $40B Preferred Stock Sale To Treasury

American International Group, Inc. (AIG) will receive $40 billion from the U.S. Department of Treasury's Troubled Assets Relief Program (TARP) in exchange for four million shares of American Internati

By Staff Writer | Updated on November 26, 2008

American International Group, Inc. (AIG) will receive $40 billion from the U.S. Department of Treasury’s Troubled Assets Relief Program (TARP) in exchange for four million shares of American International Group Series D Preferred Stock, the company said.

AIG said the transaction also includes a warrant for the Treasury to purchase a number of shares of common stock of AIG equal to 2 percent of the issued and outstanding shares, or just under 53.8 million shares. The warrant has a 10-year term.

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