AIG warrant buyback closes govt. stake
NEW YORK (MarketWatch) — American International Group, Inc. 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 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 every penny borrowed from the government during the financial crisis, adding .7 billion to the original amount, said Chief Executive Robert H. Benmosche. AIG shares were down 0.5% in trading.
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