Tags: AIG | Toxic | Asset | Bailout

Report: AIG May Sell Stakes in Toxic Asset to Pay Bailout

Wednesday, 14 Jul 2010 02:30 PM

American International Group has floated a plan to partially pay down its U.S. bailout debt by selling stakes in two entities that were created to take toxic assets off its books, Bloomberg said Wednesday.

AIG valued its stakes in the entities, Maiden Lane II and Maiden Lane III, at $6.2 billion at the end of March, up $900 million from the end of 2009, according to a U.S. Securities and Exchange Commission filing.

AIG has been in talks with the U.S. Treasury Department about the plan, which is in early stages, Bloomberg reported, citing unnamed sources.

AIG, which is nearly 80 percent owned by the U.S. government after receiving a $182.3 billion aid package, declined to comment.

© 2015 Thomson/Reuters. All rights reserved.

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