AIG's Taiwan unit sale hits price hurdle

TAIPEI: A rich asking price could once again sink AIG���s plan to sell its Taiwan insurance unit after an attempt at a sale earlier this year met a similar fate.

AIG, once the world���s biggest insurer before the US government had to bail it out last year, is seeking about $2 billion for Nan Shan Life, likely its most expensive asset for sale in Asia.

But some potential buyers say the Taiwan unit���s net assets could be worth as much as 40% below $3 billion that AIG claims. As the August 28 sale deadline nears, bidders are re-evaluating the situation and some could walk away due to disagreements over the price and lack of information. In June, the Nan Shan sale attracted more than a dozen buyers.