U.S. private equity fund Primus Financial Holdings Ltd. has won the bid for American International Group Inc.'s (AIG) Taiwan unit, with an offer of US$2.2 billion, Taiwan's Economic Daily News reported Tuesday.
The report said Primus won the bid for Nan Shan Life because it agreed to the insurer's terms, which included keeping Nan Shan's brand and giving staff the money they had contributed to their pension funds.
Primus pledged to run the business for at least seven years, and the two parties will sign the acquisition agreement Friday, Economic Daily News reported.
The Wall Street Journal
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