Nov. 24, 2010 (China Knowledge) - U.S. insurance giant American International Group has invited four Taiwan enterprises to conduct the due diligence of its subsidiary Nan Shan Life Insurance, after the Taiwan's regulator earlier rejected an application submitted by the consortium led by China Strategic Holdings Ltd<0325> to acquire the life insurance unit, the Wall Street Journal reported yesterday, citing sources with knowledge of the matter as saying.
The four enterprises and individual investor include Chinatrust Financial Holding Co, Fubon Financial Holding Co, Cathay Financial Holding Co and president of Ruentex Group, said the sources.
However, the sources noted that the talks are still in the early stages.
In August, Hong Kong-based investment firm China Strategic Holdings and its partner Primus Financial Holdings Ltd announced to terminate the acquisition plan of Nan Shan Life Insurance after the Taiwan's regulator denied the deal.
http://www.chinaknowledge.com/Newswires/News_Detail.aspx?type=1&cat=FIN&NewsID=38916
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Now you see why Allianz is staying in Taiwan, will the last AIG employee remember to switch the lights off please, thank you.
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