The companies aim to resubmit an application next week is to receive approval to buy Nan Shan Life Insurance Co., American International Group Inc.’s unit in the island, Robert Morse, co-founder of Primus, said in a telephone interview today. Taiwan’s investment commission asked Primus and China Strategic to provide more information about their shareholders on Nov. 13.
The regulator’s approval would allow the two companies to complete their proposed acquisition of most of Nan Shan from AIG and provide a stepping-stone for Morse's ambitions to expand Primus’s operations in Asia. Taiwan bans Chinese investors from controlling the island’s financial companies.