Chinatrust says "capable" of running AIG Taiwan unit

By : TAIPEI, Aug 18 (Reuters) - Chinatrust (2891.TW), Taiwan's top credit card issuer, said on Tuesday i
Date posted :2009-08-18 03:00:00

Chinatrust and global buyout firm Bain Capital are one of the four potential buyer groups that made it to the final round of bidding for AIG's Taiwan unit Nan Shan in a deal estimated to be worth $2 billion, sources have said. [ID:nHKG107252]

"We are capable of running Nan Shan," said chief investment officer Daniel Wu in response to questions from reporters. "But I'm not going to say if we have an interest (in acquiring it) or anything else."

Meanwhile, Chinatrust will open a branch or subsidiary in Shanghai after Taiwan signs a financial services agreement with China.

"We file an application once the MOU is signed," Wu said.

Chinatrust and domestic rivals are waiting for the government to sign a financial services agreement with China, opening financial markets and investment to companies from both sides.

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