AIG to sell Nan Shan to Taiwan's Ruen Chen
Months after the $2.15 billion sale of Taiwan’s Nan Shan Life Insurance to a PE-backed consortium including China Strategic Holdings and Primus Financial Holdings was rejected by regulators – with the questions regarding the companies’ long-term commitment to the insurer at the heart of the breakdown - Nan Shan’s parent, AIG, has sold the unit to Taiwanese firm Ruen Chen Investment Holding for $2.16 billion, subject to regulatory approval.
Domestic investment firm Ruen Chen is to take AIG's full 97.57% stake in Nan Shan, which will be paid for in cash. Ruen Chen is the JV brokered between retail conglomerate Ruentex Group, which o...
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