Yuanta Financial to buy Ta Chong Bank in cash, stock deal
Add BT as a preferred source[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.
BLOOMBERG
Share with us your feedback on BT's products and services
TRENDING NOW
Xi Jinping has just rewritten the rules of US-China rivalry
High Court raps UOB over inconsistent legal positions on late mortgage payment charges
‘Whole deck of cards just toppled’: FoodXervices’ Nichol Ng on how a 92-year-old family business unravelled – and what’s next
China’s Huawei reveals chip design breakthrough amid US sanctions
