Four local bidders are weighing up offers for the Taiwanese life assurance arm of AIG, the government rescued US insurer, in an auction that has been restarted after regulators blocked an earlier deal.
Chinatrust Financial, Fubon Financial and Cathay Financial, three of Taiwan’s biggest banking groups, began due diligence this week after being informed by AIG that it was putting Nan Shan up for sale again, according to people familiar with the process.
Ruentex Group, a Taiwanese conglomerate with interests in hypermarkets, property development and textiles, is also likely to bid, according to two people familiar with the situation.
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