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Qatar, Japan investors eyes acquisition of Nan Shan Life

Aug. 31, 2010 (China Knowledge) - A consortium consisting of Qatar Investment Authority and Japan-based Firix Partners Co is considering buying Nan Shan Life Insurance Co for US$2.5 billion from insurance giant American International Group Inc, if Taiwan's regulators reject the acquisition application jointly submitted by China Strategic Holdings Ltd<0235> and Primus Financial Holdings Ltd, the Commercial Times reported yesterday.

According to the report, the consortium has arranged investment banks to contact with AIG, expressing the consortium's intention to acquire Nan Shan Life.

Reportedly, Taiwan government will start reviewing processes of China Strategic's proposed acquisition of Nan Shan Life later this week.

Last October, China Strategic and Primus Financial agreed to buy Nan Shan Life from AIG. However, the deal has been postponed because Taiwan's regulators are concerned that China Strategic might be backed by mainland China and it has no experience of running life insurance business.

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