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AIG reduces government borrowings by $25 billion
Quick ReadAIG cuts government loan by $25 billion as it takes steps to spin off 2 insurance units
NEW YORK (AP) — American International Group Inc. on Tuesday slashed the amount of money it owes the government by $25 billion, completing a move of two subsidiaries into special holding units ahead of their planned spinoff or sale.
The insurance giant has been selling assets and spinning off divisions in an effort to help repay a government bailout package received last year when it was on...
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