Nan Shan deal seals AIG exit from international life business

AIG, the stricken financial conglomerate that received a reported $182.5 billion of US bailout money, has sold its Taiwanese arm, Nan Shan life, to a mainland Chinese banking consortium for $2.15 billion.

The sale means the holding company's only non-US life business is tied up in the special purpose vehicles (SPVs) created to house the Alico and AIA subsidiaries earlier in the summer. The SPVs are to be used to repay US bailout loans, with $25 billion earmarked from a planned initial public off

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