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Taiwan: Formosa Plastics boosts TV dealings

By  |  April 29, 2014

Taiwan-based Formosa Plastics has reportedly entered into an agreement to acquire a 95 percent stake in Gala Television, a Taiwanese cable network.

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    Formosa will acquire the shares from Sweden-based private equity firm EQT Partners. While financial details were not disclosed by the parties, this marks the second acquisition of Gala TV shares by Formosa – the company had bought a 23 percent stake in the firm in 2002, according to reports.

    That stake was later divested in 2009.

    Taiwanese regulators will need to approve of the transaction.

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