Fri, Sep 14, 2007 - Page 12 News List

Ta Chong approves cash injection by Carlyle, Corsair

BANKING The bank hopes to enhance its capital adequacy ratio by selling a stake of between 36 percent and 40 percent to the two foreign private equity investment firms

By Kevin Chen  /  STAFF REPORTER

Corsair, meanwhile, will set up a local subsidiary called Xiong He (雄賀), through which it plans to subscribe for 284 million common shares, 113.6 million preference shares and NT$3.6 billion worth of convertible debentures.

The Carlyle Group, not Ta Chong, will submit the investment plans to the Financial Supervisory Commission, Chuang said.

"We cannot comment on whether the financial regulator will give the green light to the investment plans or when it will do so. But we see no particular reason why the financial regulator would oppose the investment plans," he said.

This story has been viewed 5789 times.

Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.

TOP top