American International Group (AIG. N), the bailed-out insurer will be selling off its stake in MetLife Inc (MET. N) way before the expected time speeding up its debt payment to the U. S. government and giving MetLife more powering dealing with the firm’s share.

At one point of time, AIG's bailout had hit the figure of one hundred and eighty two billion dollars. At present, the government has an investment of a 92.2% stake in common stock of AIG as well as preferred interests in a couple of special purpose vehicles.

For this MetLife agreement, AIG will be able to clear the Treasury's interest in one vehicle, which has the MetLife shares. It can also help AIG to clear a part of the interest in the second vehicle, which also has shares of AIG in AIA Group (1299. HK).

After the deals get squared up, AIG will be able to clear an amount ranging from six billion to seven billion dollars out of the $18.2 billion which is still owed by AIG, on the vehicles. The worth of the AIA shares that are hold in the second vehicle will possibly be enough to take care of the balance owed.

The international insurance business of AIG named Alico had been sold to MetLife last year for an amount of 7.2 billion dollars in cash and nine billion dollars in different classes of securities. A nine-month lockup on share sales was also included in the deal.

The terms of the deal that got announced on Tuesday will enable AIG to sell its MetLife equity units and common stock in countersigned offerings at present. MetLife will directly buy preferred shares from AIG, using the money from a common stock offering.

Under this deal AIG will be able to access several billions of dollars of capital way before than planned at good prices. MetLife shares at present have value of nearly six dollars more than the time of the Alico sale getting closed.