WASHINGTON (AP) — American International Group Inc. said Tuesday it is taking another step toward repaying the government's $182 billion bailout package.
The company has reached an agreement with MetLife Inc. to sell more than 78 million MetLife common shares, and it also agreed to sell another 40 million equity units of MetLife valued at $3 billion.
AIG received the securities as part of the $16.2 billion sale of its American Life Insurance Co. subsidiary to MetLife last November. MetLife paid $7.2 billion in cash and the rest in securities for ALICO.
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