Wednesday
Jan122011
AIG agrees to $2.2 billion sale of Taiwan unit
(Reuters) - American International Group Inc accepted a $2.16 billion cash offer for its Taiwan Nan Shan Life unit from a group led by local conglomerate Ruentex, marking the beginning of the end of a drawn-out process fraught with political wrangling.
AIG has been trying to sell the unit for some 15 months as part of its plans to help pay back the U.S. government for its $180 billion bailout, but regulatory issues have dogged the sale process and might yet delay it further.
Jan 12, 2011 at 4:27 PM
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http://www.reuters.com/article/idUSTRE70B73020110112
Reuters) - Banks will meet in New York City on Thursday to make their case for the right to sell the U.S. Treasury's stake in American International Group, three people familiar with the matter said on Wednesday.