Chinatrust plans to pay $660m for a 30% stake in Nan Shan Life, Taiwan’s second-largest life insurer, after losing its bid to buy the business from AIG, reports Bloomberg. Chinatrust, Taiwan’s third-biggest financial company by market cap, said it will acquire the 30% investment from China Strategic Holdings, which together with Primus Financial agreed last month to buy Nan Shan for $2.15bn.

This entry was posted by Gwen Robinson on Wednesday, November 18th, 2009 at 4:40 and is filed under Capital markets, M&A. Tagged with aig, China Strategic, Chinatrust, Nan Shan Life, Primus. Edit this entry.