American International Group Inc accepted a $2.16 billion offer for its Taiwan Nan Shan Life unit from a group led by local conglomerate Ruentex Group, marking the beginning of the end of a over year-long process fraught with delays and political wrangling. In a statement to the Taiwan stock exchange, Ruentex said the group comprising Ruentex Industries Ltd along with local firm Pou Chen Corp had signed the deal on Wednesday. It will acquire the 97.57 percent of Nan Shan that is for sale. The statement did not give further details.
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