Battle Over AIG Taiwan Unit Heats Up

One company's trash, several other companies' treasure. American International Group's ( AIG) Taiwan unit is apparently creating a bidding war.

Bain Capital and Oaktree Capital Management are teaming up with Chinatrust Financial to dual it out for the Nan Shan Life against the partnership of Carlyle Group and Fubon Financial, Bloomberg reported today.

The deal is estimated to be worth more than $2 billion.

Primus Financial Holdings and Cathay Financial Holdings have also been invited to put in binding bids next month.

AIG is, of course, selling its Asia asset in an effort to pay back the $180 billion bailout it received from the government in 2008.

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