Loading LiveCycle Banners.
  1. News Articles
  2. Related News Articles
News Article Details

Fairholme Capital Management to Discuss AIG's Capital Structure

Back | A- | A+
 Email This     Print     Subscribe

Posted on 11 Jan 2011

The largest private shareholder of American International Group Inc., Fairholme Capital Management, disclosed Monday it intends to engage in discussions with the insurer's management, board and shareholders regarding the company's capital structure.

In a filing with the Securities and Exchange Commission, AIG announced the plan by Fairholme, which owns 44.3 million shares, or 31.6% of the company's stock that isn't owned by the U.S. government. The asset manager is run by Bruce Berkowitz.

The U.S. Treasury is auditioning bankers this week to manage a public offering of a large chunk of its stake in AIG. The insurer received a $182.3 billion bailout from the U.S. government to prevent a near-collapse in 2008 from bad bets made on the housing market.

Berkowitz began to amass his stake in AIG early this year. He said he began to build the stake as it became clear to him that AIG would repay its government bailout.

An AIG spokesman declined to comment. A representative for Fairholme didn't immediately respond to a request for comment.


Post a Comment
If you are a Storefront / Tradingfloor user, click here to login.
Note: As a guest user, please fill out the form below to post a comment.
Post your comments here.
Name :
Email Address :
Captcha :
Comments :
Character left : 2000