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Taiwan Govt: Bank Of East Asia To Buy AIG Wealth Mgmt Unit

Bank of East Asia is seeking approval from Taiwan's Investment Commission for its purchase of American International Group Inc.'s Taiwanese wealth management unit, Emile M. P. Chang, the commission's deputy executive secretary, said Thursday.

The Hong Kong-based lender submitted an application earlier this week to the commission, which vets all inbound foreign investments, to buy AIG Wealth Management Services (Taiwan) Ltd., Chang told Dow Jones Newswires.

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