|[December 11, 2012]
U.S. Treasury to Sell Its Last Remaining Shares of AIG Common Stock
NEW YORK --(Business Wire)--
American International Group, Inc. (NYSE: AIG) today announced that the
U.S. Department of the Treasury (Treasury) has priced an offering of
approximately 234.2 million shares of AIG common stock at a price to
market of $32.50 per share. Upon the closing of this transaction,
expected this Friday, Treasury will have sold the last of its remaining
shares of AIG common stock, receiving proceeds of approximately $7.6
billion from the sale.
The closing of this transaction will mark the full resolution of
America's financial support of AIG. After the closing of today's
offering, Treasury will continue to hold warrants to purchase
approximately 2.7 million shares of AIG common stock - the sale of which
is expected to provide an additional positive return to taxpayers.
"We are very pleased to repay 100 percent of all that America invested
in AIG plus a total combined positive return - or profit - of $22.7
billion," said AIG President and Chief Executive Officer Robert H.
Benmosche. "On behalf of the 62,000 employees of AIG, it is my honor and
privilege to thank America for giving us the opportunity to keep our
promise to make America whole on its investment in AIG plus a
substantial profit. Thank you America. Let's bring on tomorrow."
Since September 2008, America committed a total of $182.3 billion in
connection with stabilizing AIG during the financial crisis. Since then,
through asset sales and other actions by AIG, America has not only
recoverd all $182.3 billion but also earned a combined positive return
of $22.7 billion.
BofA Merrill Lynch, Citigroup, Deutsche Bank Securities Inc., Goldman,
Sachs & Co. and J.P. Morgan Securities LLC have been retained as joint
bookrunners for the offering.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the securities described herein, nor
shall there be any sale of these securities in any jurisdiction in which
such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
AIG has filed a registration statement (including a prospectus) with the
Securities and Exchange Commission (SEC (News - Alert)) for the offering to which this
communication relates. Before you invest, you should read the prospectus
in that registration statement and other documents that AIG has filed
with the SEC for more complete information about AIG and this offering.
You may get these documents for free by visiting EDGAR on the SEC Web
site at www.sec.gov.
Alternatively, AIG, any underwriter or any dealer participating in the
offering will arrange to send you the prospectus if you request it from
(i) BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn:
Prospectus Department, or by emailing firstname.lastname@example.org,
(ii) Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717, by calling 1-800-831-9146, (iii) Deutsche
Bank Securities Inc., Attn: Prospectus Group, 60 Wall Street, New York,
NY 10005-2836, by calling 1-800-503-4611, or by emailing email@example.com,
(iv) Goldman, Sachs & Co. Attn: Prospectus Department, 200 West Street,
New York, NY 10282, by calling toll-free 866-471-2526, by faxing
212-902-9316 or by emailing firstname.lastname@example.org,
or (v) J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, NY 11717, by calling 866-803-9204.
American International Group, Inc. (AIG) is a leading international
insurance organization serving customers in more than 130 countries and
jurisdictions. AIG companies serve commercial, institutional, and
individual customers through one of the most extensive worldwide
property-casualty networks of any insurer. In addition, AIG companies
are leading providers of life insurance and retirement services in the
United States. AIG common stock is listed on the New York Stock Exchange
and the Tokyo Stock Exchange.
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