Breaking News, World News and Taiwan News.

FPG shows interest in acquiring GTV: source

TAIPEI, Taiwan -- An anonymous Formosa Plastics Group (FPG, 台塑集團) executive on Monday authenticated the group's interest in taking over the shares of Taiwanese pay-TV group Gala Television (GTV, 八大電視) from its Swedish major investor.

The Central News Agency (CNA) yesterday reported that Formosa Plastics Development Co. (台塑開發), a FPG subsidiary company, will be the ultimate investor of GTV. The high-ranking FPG official confirmed that the intermediate plastic material producer is in talks with EQT Partners about the acquisition price and investment proportion.

Taiwan-based newspaper Economic Daily earlier reported that EQT Partners is proposing to sell its controlling stake in GTV for up to NT$6 billion.

Sweden-based private equity fund EQT Partners acquired a 96.5-percent stake in GTV, which owns and operates four cable channels, in February 2011.

The TV network reported sales of NT$2.196 billion in 2012, with earnings before interest, taxes, depreciation and amortization of NT$726 million.

Write a Comment
CAPTCHA Code Image
Type in image code
Change the code
 Receive China Post promos
 Respond to this email
Subscribe  |   Advertise  |   RSS Feed  |   About Us  |   Career  |   Contact Us
Sitemap  |   Top Stories  |   Taiwan  |   China  |   Business  |   Asia  |   World  |   Sports  |   Life  |   Arts & Leisure  |   Health  |   Editorial  |   Commentary
Travel  |   Movies  |   TV Listings  |   Classifieds  |   Bookstore  |   Getting Around  |   Weather  |   Guide Post  |   Student Post  |   Terms of Use  |   Sitemap
  chinapost search