AIG sells Taiwan unit

09:22, January 13, 2011      

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US insurance giant AIG, short of cash as it seeks to repay a government bailout, said Wednesday it would sell its Taiwan unit to a consortium led by one of the island's biggest conglomerates for $2.16 billion.

AIG said it had agreed to sell Nan Shan Life to Ruen Chen, a group led by Ruentex, after it expressed a long-term commitment to the company.

Source: Global Times
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