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Four Chinese Investor Groups Trying to Acquire AIA, Morning Post Reports

Posted on 13 Jul 2010

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At least four groups of Chinese investors are considering acquiring American International Group Inc.’s Asia insurance unit, AIA Group Ltd., the South China Morning Post reported, citing people in the banking industry familiar with the situation.

One of the groups is led by Shan Weijian, chairman of the Pacific Alliance Group Ltd., and another by Zhang Songqiao, of Hong Kong-based CC Land Holdings Ltd., the report said.

The acquisition talks are unconfirmed speculation, Shan said, according to the report. He declined to comment further, the Morning Post said.

Guo Guangchang, chairman of Shanghai-based Fosun International Ltd., is heading a third group that is interested in AIA assets, the Morning Post said.

Fosun was interested in AIA and for various reasons is not following up the deal for now, a company spokesman was quoted by the Post as saying.

The other group that has approached AIG comprises Hong Kong and Taiwan investors, the report said, without providing further details.