Among the four bidders, three had offered less than $1.5 billion each for Nan Shan unit
AIG is likely to announce the buyer of its Taiwan Nan Shan Life unit by the end of September – reported Reuter citing Chinese newspaper, Commercial Times
The four bidders, including Hong Kong-based Primus Financial and Taiwan’s Chinatrust, have been clarified that the purchaser of the Nan Shan unit will be decided in a month.
Reportedly, American International Group (AIG) had been expected to announce the result on September 4. Among the four bidders, three had offered less than $1.5 billion each for Nan Shan unit. The joint bid by investment firm, Primus Financial and Hong Kong battery maker, China Strategic was one of the highest at between $1.2 billion and $1.3 billion.
The remaining two bidders were Taiwan’s Cathay Financial and a consortium of Carlyle Group and Taiwanese partner Fubon Financial. Chinatrust Financial, a Taiwan-based credit card issuer, had also shown its interest in the bid for Nan Shan but no detail on its offer was available, quoted Reuters.