Reuters: Private Equity: Taiwan's Ta Chong: no buyers yet for Carlyle stake

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Taiwan's Ta Chong: no buyers yet for Carlyle stake Mar 16th 2012, 08:15 TAIPEI, March 16 | Fri Mar 16, 2012 4:15am EDT TAIPEI, March 16 (Reuters) - Ta Chong Bank said on Friday that private equity firm Carlyle Group has yet to pick an investment bank to run the sale of its stake, and no potential buyers have yet come forward. Sources told Reuters last month that Carlyle has invited investment banks to make pitches to win advisory roles for the sale process, as it looks to exit the island's low-margin financial sector. Chairman Chien-Ping Chen told media on the sidelines of a business event that neither the bank nor Carlyle have signed any MOU with another financial institution. He added that there was no interest yet from mainland Chinese banks in the stake. Media reports in Taiwan have said that Fubon Financial and Yuanta Financial are interested in buying the stake, which is worth around $300 million.

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