NEW YORK (
American International Group
may not get the $2 billion it was looking for in the sale of its Taiwanese life insurance unit, a report says.
Bidders for the Nan Shan Life Insurance unit may offer less than AIG's target,
reports, citing three people with knowledge of the matter.
A group led by
may bid between $1.2 billion and $1.4 billion for AIG's subsidiary, said one of the people,
plans a $1 billion offer, while
may bid at least $1.5 billion, the news agency adds.
Binding offers for the unit are due Friday.
Last week it was reported by
, Taiwan's top credit card insurer, was the
to likely pull out of the rapidly thinning field for Nan Shan Life. Chinatrust's partner in the pending deal, Bain Capital, expressed concerns with going forward,
The sale of Nan Shan Life, Taiwan's second-largest life insurer, is part of AIG's plan to shed assets and help it repay bailout loans it received from the U.S. government.
-- Reported by Joseph Woelfel in New York
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