American International Group Inc. said it has issued 100,000 shares of stock to the U.S. Treasury as part of the previously announced arrangement to provide a 79.9 percent taxpayer ownership of the company in exchange for government bailout monies.
New York-based AIG said it issued the 100,000 shares of preferred stock to the AIG Credit Facility Trust established for the sole benefit of the U.S. Treasury. The shares have a par value of $5.
Issuance of the stock formalized the government's holding of 77.9 percent of the aggregate voting power of the AIG common stock, the company said in a statement. The transaction took place on March 4, AIG said.
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