The U.S. Department of Treasury has sold a stake in AIG worth $5.8 billion, Financial Times reports. The treasury sold a total of 200 million shares at $29 per unit, while AIG itself sold 100 million shares, raising $2.9 billion for the group.

Bank of America Merrill Lynch, Deutsche Bank, Goldman Sachs and JPMorgan were the joint lead managers on the offering. Post the transaction, the U.S. government will be left with a $53.1 billion stake in AIG, adds AFP.

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