AIG set to sell $16 billion in Real Estate to pay back government loan

AIG may be looking for buyers for some of its $16 billion global real estate holdings to pay back the US government loan. The Giant US insurer took an $85 billion loan from the federal government last week to allow the insurer to continue trading.

American International Group will not be hard pushed to find eager buyers for property it owns, the insurer owns property in 14 US cities and 30 countries as well as three office buildings in Manhattan with 2 million square foot. Many of AIG properties will be extremely sought after due to them not being up for sale regularly.

AIG share price shot up 21 percent on Tuesday in New York trading.

Read the full article in the Bloomberg