Primus Wins Bid For AIG's Taiwan Unit; Offers US$2.2 Billion -Report
October 05 2009 - 10:49PM
Dow Jones News
U.S. private equity fund Primus Financial Holdings Ltd. has won
the bid for American International Group Inc.'s (AIG) Taiwan unit,
with an offer of US$2.2 billion, Taiwan's Economic Daily News
reported Tuesday.
The report said Primus won the bid for Nan Shan Life because it
agreed to the insurer's terms, which included keeping Nan Shan's
brand and giving staff the money they had contributed to their
pension funds.
Primus pledged to run the business for at least seven years, and
the two parties will sign the acquisition agreement Friday,
Economic Daily News reported.
-By Hong Kong Bureau, Dow Jones Newswires; 852-2832 2340;
amy.or@dowjones.com