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Member, Beacon International Group, Ltd.
NEW YORK (Reuters)—The U.S. Treasury does not have any specific timetable or deadline for exiting its investment in American International Group Inc., but will continue to reduce its stake in an orderly manner, a Treasury official said on Tuesday.
Treasury is "hopeful" that the U.S. government can recover the investments it made in AIG, but will only know for certain when its exit is complete, said Tim Massad, who, in his role as acting assistant for financial stability at Treasury, oversees the Troubled Asset Relief Program.
Treasury sold 15% of its stake in AIG on Tuesday, which left it with 77% ownership of the insurer.
NEW YORK (Reuters)—American International Group Inc. and the U.S. Treasury on Wednesday said they will sell around $9 billion in AIG stock, but sources familiar with the situation said the Treasury would pull the sale if it can not be done profitably.