US insurance giant AIG has invited four Taiwanese units to conduct due diligence on the troubled firm’s Taiwan unit Nan Shan Life to revive its sale, The Wall Street Journal reported.
The four parties were said to be Chinatrust Financial Holding Co., Fubon Financial Holding Co., Cathay Financial Holding Co. and the chairman of Ruentex Group.
“The invitation to these firms means the deal is back on the block, but it’s in very early stages,” a person familiar with the matter told the newspaper. “But these are all Taiwan companies so the aim is to get strategics to bid.”
An AIG spokesperson in New York declined to comment on the report. Earlier this month, leading Taiwanese financial conglomerate Fubon Financial Holding said it is interested in making a bid for Nan Shan Life.
American International Group said in September it was considering other options after the collapse of the planned 2.15 billion US dollar sale of Nan Shan Life to Hong Kong-listed China Strategic Holdings.
New York, Nov 23, 2010 (AFP)
