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Closer To Agreement
By Paritosh Bansal |
September 28, 2010, Tuesday
|
Print Edition
Print Edition
AMERICAN International Group Inc and the United States government are moving closer to a deal on how the Treasury Department would withdraw from its investment in the bailed-out insurer, sources familiar with the situation said on Sunday.
The situation, however, is still fluid and there are many moving parts, one of the sources said.
The plans may be unveiled as early as this week, but the exact timing of an announcement depends on the pace of negotiations, Bloomberg reported.
A possible conversion of the Treasury's US$49 billion preferred stake in AIG into common stock is one of the options being discussed between the parties, Reuters previously reported.
The situation, however, is still fluid and there are many moving parts, one of the sources said.
The plans may be unveiled as early as this week, but the exact timing of an announcement depends on the pace of negotiations, Bloomberg reported.
A possible conversion of the Treasury's US$49 billion preferred stake in AIG into common stock is one of the options being discussed between the parties, Reuters previously reported.
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