Reuters: Private Equity: Taiwan's Yuanta pulls out of bid for Carlyle-backed bank

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Taiwan's Yuanta pulls out of bid for Carlyle-backed bank May 25th 2012, 00:25 TAIPEI | Thu May 24, 2012 8:25pm EDT TAIPEI May 25 (Reuters) - Yuanta Financial said on Friday it has pulled out of an up to $1.25 billion bid to buy Carlyle Group-backed Taiwanese bank Ta Chong Bank. A Yuanta spokesman declined to elaborate. Local newspapers said disagreements over the share swap ratio and a recent tumble in the Taiwan stock market were behind the pull-out. Reuters reported last Friday that Carlyle was in talks to sell its stake in Ta Chong to Yuanta in a deal worth up to T$37 billion ($1.25 billion) that would have given it a stake in Yuanta. Carlyle was looking to exit its five-year investment in the slow-growing Ta Chong for exposure to the fast-expanding Yuanta.

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