Taiwanese Companies Confirm Bids for AIG's Nan Shan

TAIPEI, Taiwan, Dec 06, 2010 (A. M. Best via COMTEX) --

American International Group Inc. has attracted four Taiwanese financial and business conglomerates for a new round of acquisition bids for its life insurance unit, Nan Shan Life Insurance Co. Ltd., in Taiwan.

The four companies expressing interest in Nan Shan are Chinatrust Financial Holding Co., Cathay Financial Holding Co., Ruentex Group and Fubon Financial Holding Co. Ltd.

http://www.tradingmarkets.com/news/stock-alert/aig_chyyy_taiwanese-companies-confirm-bids-for-aig-s-nan-shan-1350075.html

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The scramble to fill AIG’s Asian market vacuum continues, this could be quite a fierce battle to take over Nan Shane, seeming Pru have already failed. AIG might be desperate to sell, but they won’t sell for a penny less than they think Nan Shan is worth.