Carlyle and Primus bidding for AIG's Nan Shan Life
Private equity firms Carlyle Group and Primus Capital are among the bidders for AIG’s Taiwanese life insurance division, in a deal that could raise up to $2bn for the seller, according to reports.
Sources told Reuters that Friday is the deadline for interested companies to submit their bids to buy Nan Shan Life. The official auction for the Taiwan unit reportedly began in mid-June, and AIG is said to want between $1.8bn and $2bn for the company.
AIG put Nan Shan and a number of other Asian units up for sale earlier this year, but the sales were suspended while the firm and the US government agreed on new aid terms.
JC Flowers & Co and Kohlberg Kravis Roberts & Co are both rumoured to be interested in Nan Shan, as are financial services groups Fubon Financial, Chinatrust Financial and Cathay Financial.
Copyright © 2009 AltAssets
Article is in the following categories:
Private Equity News» By News Type» Deal News
Private Equity News» By PE Sector» Buy-out
Private Equity News» By Region» Asia» Taiwan
Private Equity News» By News Type» Deal News
Private Equity News» By PE Sector» Buy-out
Private Equity News» By Region» Asia» Taiwan
