AIG Takes In $9.6B With MetLife Stake Sale

Law360, New York (March 2, 2011, 11:12 PM EST) -- American International Group Inc. sold its stake in MetLife Inc. for $9.6 billion earlier than scheduled on Wednesday to help accelerate its efforts to pay down the $18.2 billion debt it owes the U.S. Department of the Treasury.

A total of 146.8 million shares of MetLife common stock were sold at an offering price of $43.25 per share, resulting in proceeds of $6.3 billion, according a Wednesday statement by Treasury.

AIG also sold MetLife equity units valued at $3 billion for $3.3 billion, Treasury said....
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