Primus Financial Holdings and China Strategic Holdings, which agreed to buy Taiwanese insurer Nan Shan Life Insurance from American International Group last October for $2.15 billion, said on Friday that they have amended the purchase agreement to provide additional support for Nan Shan's capital ratio.
Under the revised agreement, $325 million of the purchase sum will be placed in escrow for a four-year period, supposedly in a bid by the Primus-led consortium and AIG to finally secure regulatory approval for the transaction. AIG needs the money as it attempts to repay a $182.3 billion bailout by the US government in 2008 and would be particularly keen to ensure that this deal goes through now that...
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