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Tuesday, January 11, 2011

AIG set to announce sale of Taiwan unit-reports, (NYSE: AIG)

American International Group (AIG.N) will announce as early as Wednesday the sale of its Taiwan Nan Shan Life unit to conglomerate Ruentex Group for $3 billion, according to several Taiwan newspapers. Andrew Borodach and Lauren Day, the assistant general counsel and spokesperson for AIG, arrived in Taipei late on Tuesday and are set to hold a media briefing at around 4 p.m., some of the reports said. The reports could not be immediately confirmed. (Reporting by Clare Jim; Editing by Jonathan Standing)