US government set to move closer to AIG exit with restructuring plan
American International Group (AIG) and the Obama administration are moving closer to a restructuring plan that would pave the way for the US Treasury to make a final exit from the insurance giant.
According to reports, the plan is to convert $49bn in preference shares held by the US Treasury into common stock that would then be sold to private investors over time.
In the short term the move would increase the government's overall interest in AIG from 80 percent...
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