Taishin Investment Trust Co (
"Business ties will eventually be separated," Wu said yesterday as he spoke to the media for the first time since a shareholding fight with his elder brother Thomas Wu (
Eric Wu is sure to take over control of Shinkong Synthetic Fibers Corp (
In return, Thomas Wu won full family support to be re-elected as chairman of the financial-service company earlier this month.
As part of the agreement, Taishin Financial is expected to release its 45 percent stake in Taishin Investment Trust, which was established in June, within the next three years.
Eric Wu said that he may buy back the stake if the price is right.
The remaining 55 percent stake is owned by several family-owned subsidiaries.
Eric Wu also said the trust company is working on two acquisition deals, one of which is slated to be closed by year's end, although he would not elaborate.
When asked if he is interested in forming a financial-services company, he gave a resounding "No."
But he said that he hasn't ruled out the possibility of merging with other, bigger financial holding companies such as Shinkong Financial Holding Co (
Eric Wu refused to say whether the family-run businesses have officially been split between the four brothers, though he did say that "the to-be-held family meeting will be part of an ongoing process."
Meanwhile, Taishin Investment Trust yesterday celebrated its success in sales of two fund products and boasted that its fund size is nearing NT$10 billion.
Company's president Charles Shen (