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Article: TAIWAN'S CHINATRUST MAY SUE AIG OVER NAN SHAN LIFE SALE.

Article from:
AsiaPulse News
Article date:
November 3, 2009
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TAIPEI, Nov 3 Asia Pulse - Taiwan's ChinaTrust Financial Holding Co. (TAIEX:2891) has threatened to sue global insurer American International Group Inc. (AIG) for violating international practices during its sale of its Taiwanese subsidiary.

AIG agreed to sell 97.57 per cent of its shares in Nan Shan to a consortium led by Hong Kong's Primus Financial Holdings for US$2.15 billion in mid-October, which, according to ChinaTrust spokesman Wu Yi-kuei was lower than the bid made by ChinaTrust.

In addition to bidding more for Nan Shan, ChinaTrust also agreed to accept the conditions set down by the local life insurer's union, Wu said. AIG's rejection of more ...

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