China Strategic abandons Nan Shan bid
HONG KONG-listed China Strategic Holdings, which along with Primus Financial Holdings had agreed to buy AIG’s 97.57% stake in Taiwanese life assurer Nan Shan Life for $2.15bn, has told the Hong Kong stock exchange that it had reached an agreement with AIG to scrap the deal in the wake of Taiwan’s Financial Supervisory Commission’s recent decision to block the sale.