AIG to sell Taiwan unit for $2.15 b

The deal is a key step for AIG in it’s effort to repay US taxpayers after the government injected US$80 billion in taxpayers’ money into the firm but the insurer faces two more major sales processes in Asia and others across the globe.

The Nan Shan sale involves two little-known buyers, one a start-up financial group run by a former Citigroup banker, and the other an obscure, publicly traded Hong Kong holding company with a market value of US$111 million. Still, the agreement is likely to bring a sigh of relief to the AIG camp, as at one point it looked liked the Nan Shan process would not succeed.

Liked the story?

  • 0

    Happy
  • 0

    Amused
  • 0

    Sad
  • 0

    Frustrated
  • 0

    Angry