American International Group said the sale of one foreigninsurer and the initial public offering of a second have raisedenough money to repay a line of credit it has with the FederalReserve Bank of New York.
In the meantime, an update from the U.S. Department of theTreasury said the government expects to earn a profit from itsloans and investments in AIG.
The New York-based company closed the sale of American LifeInsurance Company (ALICO) to MetLife Inc. for $16.2 billion andraised about $20.5 billion from an IPO of its unit, AIA Group Ltd.in Hong Kong. Of the $36.71 billion raised from these transactions,about $27.71 billion is in cash.
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