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U.S. to Sell $4.5 Billion in AIG Stock in Public Offering

The U.S. Treasury Department has begun an offering of $4.5 billion in American International Group Inc. shares, and the bailed-out insurer plans to buy back as much as $3 billion of the stock.

Citigroup Inc., Deutsche Bank AG, Goldman Sachs Group Inc. and JPMorgan Chase & Co. are managing the sale, and other banks are expected to be added, the Treasury said in a statement today.