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Thursday, January 13, 2011

AIG to sell Nan Shan in Taiwan for $2.16 billion

American International Group (AIG), the insurer repaying a United States bailout, agreed to sell Nan Shan Life Insurance Co to investors led by Ruentex Group for $2.16 billion in the second attempt to dispose of its Taiwan unit. AIG will sell a 97.57 per cent stake in Taipei-based Nan Shan to Ruen Chen Investment Holding Co, according to a statement by Ruentex Industries Ltd to the Taiwanese stock exchange today. The buyer will pay in cash.


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