Taiwan’s Fubon: ‘Would Consider’ AIG Taiwan Unit Acquisition

September 1, 2010

Taiwan financial holding firm Fubon Financial would consider buying American International Group Inc’s Taiwan insurance unit if it was put back on sale, Fubon’s president said on Wednesday.

Speaking at an industry conference, Victor Kung said that the bank would look at whether the unit, Nan Shan Life, was offered at a “reasonable” price. He did not elaborate.

AIG’s plan to sell the unit for $2.2 billion to battery maker China Strategic Holdings Ltd and Hong Kong investment fund Primus Financial was rejected on Tuesday by Taiwan regulators.

AIG has yet to decide its next step.

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