Carlyle Plans $1.25 Billion Ta Chong Bank Ltd. Sale To Yuanta Financial Holding Co., Ltd.-Reuters

Reuters reported that Private equity firm Carlyle Group and other major shareholders of Taiwan's Ta Chong Bank Ltd. plan to sell the bank to Yuanta Financial Holding Co., Ltd. in a deal worth up to TWD37 billion ($1.25 billion). Carlyle and the Chen family, which together hold about 70% of Ta Chong, would sell their stakes in a share swap that values their holdings at TWD17 per share. The deal would mark an exit at a profit for Carlyle and also gives it a 7% stake in Yuanta, which is shifting its focus back to Taiwan after a move to expand in greater China didn't pay off.