Nan Shan sale blocked
September 01, 2010
TAIWAN’S Financial Supervisory Commission (FSC) has decided to block AIG’s $2.15bn sale of its 98% stake in local life assurance unit Nan Shan Life Insurance to Primus Financial Holdings and China Strategic Holdings, owing to concerns about the Hong Kong consortium’s connections to mainland China. The FSC expressed doubts over the financial strength of China Strategic, which is better known for the manufacturer and trading of batteries. Given Nan Shan’s 4m...