AIG Chooses Four Banks to Manage Share Sale

American International Group (AIG) chose Bank of America , Deutsche Bank AG, Goldman Sachs Group Inc. and JPMorgan Chase & Co., to manage the sale of the government’s 92 percent stake in the insurer, a person familiar with the situation said Tuesday.

Sources have said that the process likely will begin with a secondary offering in May that could be one of the 10 largest in history. The government is expected to sell at least $15 billion in AIG shares then, and the company is expected to sell another $3 billion on top of that.

(Reporting by Ben Berkowitz. Editing by Robert MacMillan)

Latest Comments

• January 19, 2011 at 3:49 pm

  xena says:

  Chase took the money, and reinvested it and made millions. At least that is what I was told. Doesn't make them any better than anyone else I suppose.
• January 19, 2011 at 2:33 pm

  Conservative says:

  Why am I not surprised? These are the very banks that received TARP money from the taxpayers. They all stink to high heaven with their relationship with the government and m... read more