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« AIG Moves Closer To Bailout Exit With $4.3 Billion Credit Facility Led By J.P. Morgan - Interview With Chairman | Main | Is JPMorgan The Mystery Trader Cornering The World's Copper Market? And Zinc, Aluminum & Nickel? »
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.

 

 

 

 

 

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Reader Comments (1)

Banks to meet on AIG, recap to close this week

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.
Jan 12, 2011 at 6:04 PM | Unregistered Commenterjohn

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