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NEW YORK — 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.
AIG moved American International Assurance Co. and American Life Insurance Co. into special-purpose vehicles, which are used ahead of a move to separate a unit from a parent company, and granted preferred equity stakes in the companies worth $25 billion.
