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babsbunny Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Oct-13-09 07:13 PM
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AIG sells off its Taiwan business
AIG sells off its Taiwan business

AIG sells off its Taiwan businesshttp://news.bbc.co.uk/2/hi/business/8304380.stm

Insurer AIG has said it is selling its Taiwanese life insurance business to an investor group for $2.15bn (£1.4bn).

AIG will transfer its 97.5% stake in Nan Shan, Taiwan's third-biggest life insurer, to a consortium led by Hong Kong's Primus Financial.

AIG is selling assets in an effort to repay US government aid. It was bailed out in 2008 at a cost of $182.5bn.
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