Regulators block Nan Shan sale to China Strategic and Primus tandem
Taiwan's Financial Supervisory Commission has rejected the $2.15 billion acquisition bid for AIG’s local unit Nan Shan Life Insurance launched by China Strategic and Primus Financial Holdings, with sources attributing their reservations to the consortium’s inexperience in the insurance industry and question their long-term commitment to the company.
AIG said that it would meet with Nan Shan's board of directors and senior management to reassess their strategy. The US insurer further announced that it is "disappointed by the Investment Commission's...
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