April 14, 2014 / 1:21 AM / 5 years ago

Swedish fund EQT plans to exit Taiwan cable TV unit - paper

TAIPEI, April 14 (Reuters) - Swedish private equity fund EQT Partners has put Taiwanese TV network GTV on the market for T$6 billion ($200 million), becoming the latest foreign investor aiming to exit Taiwan, the Economic Daily reported on Monday.

Potential buyers include the founding family of Formosa Plastics Group, one of Taiwan’s biggest business conglomerates, the paper said, citing unidentified industry sources.

EQT Partners bought the TV network in 2011, the paper said.

A high-ranking GTV official confirmed the planned sale but declined to elaborate, it said.

Formosa, GTV and EQT Partners officials were not immediately available for comment.

Taiwan’s Eastern Media International Corp was bidding for Carlyle Group’s 61 percent stake in local TV company Eastern Broadcasting, two sources with direct knowledge of the matter told Reuters in January, at a valuation substantially below Carlyle’s expectations.

Reporting by Faith Hung; Editing by Stephen Coates

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