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Yuanta Financial to buy Ta Chong Bank in cash, stock deal

[TAIPEI] Yuanta Financial Holding Co will acquire Ta Chong Bank Ltd in a cash and stock transaction, Yuanta spokesman Vincent Chen said by phone Thursday.

The companies are both based in Taipei.

Ta Chong Bank, which has a market capitalization of about US$1.1 billion, had 66 branches around Taiwan as of March, according to its website. Carlyle Group LP is one of the bank's major shareholders through its Zhongxi Co subsidiary, the website showed.

A deal for Ta Chong Bank would mark the first acquisition of a Taiwanese bank valued at a billion dollars or more since 2011, data compiled by Bloomberg show.

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