Debevoise advises AIG in agreement to sell Nan Shan to Taiwan-based consortium led by Ruentex Group

New York – January 12, 2011 – Debevoise & Plimpton LLP is advising American International Group, Inc. in its agreement to sell its 97.57% interest in Nan Shan Life Insurance Company, Ltd. to Ruen Chen Investment Holding Co., Ltd., a company owned 80% by the Ruentex Group, the Taiwan-based conglomerate, and 20% by Pou Chen Corporation, the Taiwan Stock Exchange-listed footwear manufacturer, for $2.16 billion in cash.
The transaction is being handled by Debevoise’s Hong Kong office. The team is led by resident partner E. Drew Dutton and includes associates William Chou, Mathias J. Iranzo, Henry Han Xi Lau and Brian F. McKenna. Partner John M. Vasily and counsel Michael D. Devins, based in the firm’s New York office, and associate Lawrence Harrison, based in London, also worked on the deal.
Debevoise is advising AIG on various disposition and restructuring transactions. The firm is advising AIG and AIA Group Limited (AIA) in connection with AIA’s initial public offering and listing on the Main Board of The Stock Exchange of Hong Kong Limited. The transaction is the largest IPO in Hong Kong’s history and the world’s largest IPO in the insurance sector.
American International Group, Inc. (AIG) is a leading international insurance organization with operations in more than 130 countries and jurisdictions. Debevoise & Plimpton LLP is a leading international law firm with offices in New York, Washington D.C., London, Paris, Frankfurt, Moscow, Hong Kong and Shanghai.

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