Ten in fray for AIG Taiwan unit

Ten in fray for AIG Taiwan unit

Global private equity firms Kohlberg Kravis Roberts KKR.UL, MBK Partners and Affinity Partners are among the bidders for AIG unit Nan Shan Life, Chinese-language Economic Daily News said, quoting identified sources.

The report comes a day after industry sources told Reuters that Carlyle and Hong Kong-based financial firm Primus Financial Holdings would submit bids by the end of Friday deadline.

Cathay, Chinatrust, Fubon financial firms and conglomerate Ruentex Group in Taiwan have also handed in their bids, the Economic Daily News quoted the sources as saying.

The bids for Nan Shan ranged from $1.7 billion to $2.5 billion, with AIG expected to make a decision on the buyer in August or September, the Economic Daily News and the Commercial Times said. AIG wants to shed some of its global assets to repay the US government after a bailout totaling about $180 billion.

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