Four years after American International Group, Inc was nearly shuttered by the financial crisis and required a government bailout that eventually swelled to USD $182 billion, the government is now planning a stock offering sell off. At one point the government owned a 92% stake in the company that is now in a midst of a sell off.

Currently owning 15.9% of AIG, or 234.2 million shares the US Treasury department did not reveal an offering price for these shares, however their value stands at USD $7.8 billion at Monday’s closing price of $33.36.

Following completion of the offering, the department will still hold warrants allowing it to purchase AIG stock in the future.

AIG also agreed Monday to sell an 80.1% stake in its giant aircraft leasing business to a group of Chinese investors.

The investor group, which includes New China Trust, China Aviation Industrial Fund and P3 Investments, will pay USD $4.23 billion to acquire the stake in AIG’s International Lease Finance Corporation (ILFC). The deal includes an option for the investors to purchase an additional 9.9% stake at a later date.

The acquisition is part of AIG’s drive to sell non-essential or non-core assets, in a strategy that is aimed at helping the insurance company emerge from the financial crisis, during which it required a government bailout, as a more stable and leaner business.

An AIG spokesman declined to comment. Shares slid 1.2% in after-hours trading Monday.

In September, the Treasury Department sold USD $20.7 billion worth of AIG shares, reducing its holdings in the company from 53.4% to 15.9%. Treasury had said at the time that they and the Federal Reserve together had generated a USD $15 billion profit on the AIG rescue, having recovered $197 billion on a $182 commitment.

Stock Price Performance: (30-Day) Between November 9, 2012 and December 10, 2012, American International Group, Inc (NYSE: AIG) stock price increased USD $1.96 (+6.09%) from USD $32.17 to $34.13.