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Four Potential Buyers Looking at AIG’s Taiwan Unit
By Market News Video Staff, Tuesday, November 23, 10:04 AM ET
There is interest from four potential acquirers in American International Group’s (NYSE:AIG) Taiwan-based Nan Shan Life Insurance Co., according to several media reports. AIG has reportedly opened Nan Shan’s books to Chinatrust Financial, Fubon Financial, Cathay Financial and Ruentex Group, so that the parties may do their due diligence in determining whether to bid on the unit. Nan Shan has 30% of life-insurance market share in Taiwan. A deal to sell it for $2.15 billion last year fell through.
AIG is among the top holdings in the Rydex Equal Weight Financial ETF (AMEX:RYF), at 1.54% of the holdings. T. Rowe Price (NASDAQ:TROW) is also a 1.54% holding, as is Prologis (NYSE:PLD), Discover Financial Services (NYSE:DFS) and Leucadia National (NYSE:LUK).
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