Search

NEWS
INVESTMENT BANKING | Cesar Tordesillas, Taiwan
Published: 05 Jan 12
1091 views


Taiwan's Cathay Fin buys stake in Taishin from Newbridge

Cathay Financial has bought a 3.45 percent stake in Taishin Financial for T$4.7 billion or $155 million from private equity fund Newbridge Capital.

 

The investment, the first such for Cathay, could be a sign that Taiwan's over-crowded banking industry would start to consolidate.

Cathay paid T$18.3 per share for 259 million convertible preferred shares, about 74 percent more than Taishin's closing price of T$10.5. .

U.S.-based Newbridge Capital invested T$27 billion in 2006 for a 18 percent stake in Taishin and was its largest single foreign stake holder.

For the source of this story, click here.



Sign up for our newsletter

 

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.

Tags: private equity fund, Taiwanese banking indsutry, Cathay Financial, al, Newbridge Capital, Taishin Financial

LATEST INVESTMENT BANKING JOBS »
PRINT ISSUE »

Subscribe Now
Will gold-to-go glitter in Asia?

97 views

Why Asian banks can no longer shrug off Bitcoin as a passing novelty

56 views

Customer-centricity key to business banking in Asia

57 views

close Don't Show Again

STAY INFORMED! Get our free weekly newsletter