China Strategic: Not Heard Of Final Outcome On Nan Shan Bid
06 Outubro 2009 - 5:08AM
Dow Jones News
China Strategic Holdings Ltd. (0235.HK) said Tuesday it hadn't
received any notification on the outcome of the bidding for
American International Group Inc.'s (AIG) Taiwan unit from either
its bidding partner, Primus Financial Holdings Ltd., or AIG.
China Strategic also said in a statement it hadn't received any
notification on whether AIG had signed an exclusive agreement
regarding the sale of Nan Shan Life.
The statement came after Taiwan's Economic Daily News cited
unnamed sources as saying U.S. private-equity fund Primus had won
the bidding for Nan Shan Life with an offer of US$2.2 billion.
The report said Primus had agreed to the terms of the sale,
which included keeping the Nan Shan brand and returning pension
fund contributions to Nan Shan staff.
The report also said Primus had pledged to run the business for
at least seven years, and the two sides would sign the acquisition
agreement Friday.
-By Aries Poon, Dow Jones Newswires; 852-2832-2332;
aries.poon@dowjones.com