American International Group (AIG) announced yesterday, to $ 2,160,000,000 to Nan Shan Life Insurance 97.57% stake sale to run into investment holding. However, the transaction is subject to the Taiwan Financial Supervisory Commission approval to the final implementation.
This is the second time want to sell Nan Shan Life Insurance AIG to repay the financing during the financial crisis from the U.S. government's $ 182,300,000,000 bailout funds. Last year, AIG has to sell a second choice Pok Chi Nan Shan Life Insurance to the Hong Kong consortium, but the absence of review by the HKMA to be scrapped in Taiwan. AIG announced the re-auction in the Nan Shan Life Insurance, the number of Taiwan's financial consortia have expressed interest.
It is reported that China Trust, Cathay Financial Holding Company, Ruentex Group, Fubon Financial Holding, and by Primus Financial Holdings, ZTE set up to preserve and build a consortium of domestic industry were submitted to the AIG acquisition of proposal. As for AIG chose not run into any financial background, investment holding company, said a person familiar with the outside world that this is due to Ruentex Group Chairman Yin Yanliang and the Taiwan government and political parties are closely linked. AIG CEO Robert said the Moqie, AIG run into the final choice because of favorable investment and financing operations of its powerful capabilities.
present, the transaction also requires approval from relevant authorities in Taiwan to the final implementation. Taiwan's Financial Supervisory Commission Chairman Chen Yuzhang sell Nan Shan Life Insurance Exchange last week, reiterated that the five principles, including the new buyers need to have the ability to finance future operations, commitment to long-term operating Nan Shan Life Insurance, with experience in the insurance business operations, commitment to take care of employees and policy holders, with consistent with the Taiwan regulatory sources of financing. Previously, AIG originally planned to sell Nan Shan Life Insurance 2.15 billion majority stake to the Hong Kong China Strategic Group and Primus Financial team, but by the end of August last year, the HKMA of the team due to Taiwan's capital increase the shareholders questioned the competence and ability, and ultimately rejected the case.
(This article Source: Securities Times network of: Xu Huan)
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