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. 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.