M&A

2 November, 2009

Chinatrust: Not ruling out legal action against AIG

TAIPEI, Nov 2 (Reuters) - Taiwan's Chinatrust Financial (2891.TW) is not ruling out taking legal action against American International Group (AIG.N) over the sale of AIG's Taiwan life insurance unit Nan Shan Life, a senior executive said on Monday.

Chinatrust and its lawyers are studying the results of the sale, Chinatrust chief investment officer Daniel Wu said at an investor conference.

Chinatrust lost its bid for Nan Shan Life to private equity fund Primus in mid-October. (Reporting by Rachel Lee; Editing by Jonathan Hopfner and Muralikumar Anantharaman)

Source: http://www.reuters.com