took advantage of the option to purchase an extra 3.9 million shares, boosting AIG's profit from the divestiture of the company to about $1.13 billion.
Last week AIG announced that it's offering
, which would result in $988 million.
Underwriters were also given the choice to pick up the additional shares to cover over-allotments.
The move brings AIG's holdings in Transatlantic down to 19.7%.
The shedding of Transatlantic, as well as other assets such as its
, is all part of the insurer's attempt to pay back the $85 billion bailout in received from taxpayers in September of last year.
Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.