The U.S. government will switch from being the majority shareholder of insurance giant American International Group to being a minority shareholder when it sells $18 billion of the company's stock in a public offering.
The Treasury Department said it will slash its stake from the current 53 percent to less than 20 percent, the first time it has not been the majority shareholder since 2008, when the government rescued the company, the Wall Street Journal reported Monday.
