convert $49.1 billion in preferred shares purchased with money from the Troubled Asset Relief Program into common stock in AIG. The move will increase the U.S. ownership stake in the insurance giant from 80% to 92%, but allow the government to sell the shares over time in the open market to end the taxpayer support.
Click on the following for more details: AIG, U.S. agree on plan for repayment of $100 billion in bailout money - latimes.com
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