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Treasury to Sell $2.7 Billion More of AIG to Cut Stake to 16%

The U.S. Treasury Department will sell an additional $2.7 billion of American International Group Inc. (AIG) shares, cutting its stake in the bailed-out insurer to about 16 percent, the department said today in a statement.

Underwriters on a public offering announced Sept. 9 of $18 billion of AIG shares exercised their full over-allotment option, Treasury said today in an e-mailed statement.

To contact the reporters on this story: Zachary Tracer in New York at ztracer1@bloomberg.net;

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

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