Taiwan gives Nan Shan bid final review
Taiwanese officials are reportedly making their final determinations in deciding the fate of AIG’s local arm Nan Shan Life Insurance, the $2.15 billion acquisition target of a consortium led by China Strategic and Primus Financial Holdings.
According to reports, regulators have almost finished reviewing the Hong Kong-based firms' recently-completed proposal, coming 10 months after the group first voiced its interest in acquiring the branch from the embattled American insurer. The process was stalled due to a myriad of concerns ranging from the consortium's inexperience in the insurance business to the firms' political ties with China. The delays caused AIG to extend its deadline for the deal from July to October.
Last month, reports surfaced that Taiwan's Chinatrust Financial Holding was still hoping to take a 30% stake in Nan Shan, as a viable alternative to the Hong Kong firms. Analysts note that AIG is under pressure to produce an outcome for Nan Shan following the group's botched sale of AIA to Prudential earlier this year.
More on Greater China
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.