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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Investment

Beijing backs Bank of China’s move for AIG Asia unit

Posted on 12 February 2009

From Marketwatch.com: Bank of China Ltd has emerged as Beijing’s preferred choice as a potential bidder for the Asian life assurance unit of American International Group Inc. The dealmakers said that CIC, China’s sovereign wealth fund, is keen to back a single mainland bidder in the auction.

The mainland lender is in discussions with financial advisers and Chinese policymakers about the merits of joining the auction for assets owned by the U.S. insurance giant, the newspaper said on its Web site…… Full Article: Source


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