HONG KONG (Reuters) – U.S. private equity firm Bain Capital is in talks with Chinatrust (2891.TW) to launch a joint bid for AIG’s Taiwan insurance unit Nan Shan, a source with direct knowledge of the situation said on Tuesday.
The move came after Taiwan regulators asked first-round bidders for Nan Shan Life including Bain to team up with a local financial firm before entering the second round of bidding, said the source.
Bain and Chinatrust Financial Holding Co Ltd have yet to definitively agree on a joint bid, he added.
Bain declined to comment. A representative for Chinatrust could not immediately be reached for comment. (Reporting by George Chen; Editing by Jonathan Hopfner)