American International Group Inc. said it has issued 100,000shares of stock to the U.S. Treasury as part of the previouslyannounced arrangement to provide a 79.9 percent taxpayer ownershipof the company in exchange for government bailout monies.
New York-based AIG said it issued the 100,000 shares ofpreferred stock to the AIG Credit Facility Trust established forthe sole benefit of the U.S. Treasury. The shares have a par valueof $5.
Issuance of the stock formalized the government's holding of77.9 percent of the aggregate voting power of the AIG common stock,the company said in a statement. The transaction took place onMarch 4, AIG said.
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