M&A

19 November, 2009

China Strategic says Taiwan yet to rule on Nan Shan

HONG KONG, Nov 19 (Reuters) - China Strategic, the company that is part of the consortium buying AIG's Nan Shan life insurance unit in Taiwan, said in a statement on Thursday that discussions about the $2.15 billion deal are still in progress.

The company issued the statement amid media reports revealing that the Taiwan government is voicing concerns about the investors behind the consortium and the amount of time the buyers plan to hold the company. Newly launched financial group Primus Financial is also an investor in the deal.

"The proposed transactions remain subject to further negotiations. It remains the intention of the company to have control of Nan Shan, either directly or indirectly," China Strategic said. (Reporting by Michael Flaherty; Editing by Jacqueline Wong)

Source: http://www.reuters.com