AIG

$2.1BN SALE OF AIG TAIWANESE UNIT ‘ON TRACK'

The $2.15bn sale of AIG's prime asset in Taiwan remains on track and the US government should receive the proceeds by the end of next March, according to the buying consortium.

The deal, announced on 13 October, involves the sale of Nan Shan, one of Taiwan's top insurers, to Hong Kong-based buyers.

However, media speculation has mounted in recent days that Taiwanese regulators could block the take-over because of concerns the consortium was secretly backed by China-sourced funds. Taiwan has strict limits on permitted levels of investment from mainland China.

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