Bloomberg reported the U.S. Treasury is offering to sell $18 billion of American International Group Inc. (AIG) shares in a transaction that is likely to cut taxpayers’ stake in the firm to below 50% for the first time since its 2008 bailout.

According to the report, AIG plans to buy back as much as $5 billion of the shares and Citigroup Inc., Deutsche Bank AG, Goldman Sachs Group Inc. and JPMorgan Chase & Co. are managing the sale, the Treasury said yesterday in a statement.

The U.S. would own about 23% of AIG if it sells the shares at the Sept. 7 closing price of $33.99 each, data compiled by Bloomberg show. Treasury had cut its stake in the New York-based firm to 53% in four earlier share sales, which raised about $23.3 billion.