The U.S. Treasury Department said on Friday that it has completed its final sale of common stock in American International Group (AIG), reducing its shares in the insurer to zero four years after a massive government bailout, Reuters reported on Friday. The Treasury said it received $7.6 billion in proceeds from the sale of its remaining 234 million shares at $32.50 per share. Overall, the Treasury and Federal Reserve received a $22.7 billion positive return on their combined $182.3 billion bailout, the department said. The sale is part of Treasury's efforts to wind down its Troubled Asset Relief Program (TARP). AIG was rescued just before it would have been forced to file for bankruptcy, as losses on risky derivatives mounted. It was bailed out as the financial system stood at the brink of disaster.
