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EQT lines up exit for Taiwan’s Gala TV

14 Apr 2014

Nordic private equity firm EQT is seeking to exit Taiwanese channel operator Gala TV for as much as $200m, according to the Economic Daily.

Taipei-headquartered Gala TV operates owns and operates four cable channels carried by all major cable operators, broadcasting the channels to Taiwanese cable TV subscribers. The company reported sales of TWD2.196bn in 2012, with EBITDA of TWD726m.

EQT acquired a 95 per cent ownership stake in 2011, via its EQT Greater China II fund. The fund makes control or co-control investments in medium-sized across Asia. The typical investment size ranges between $20m and $100m.

EQT was attracted by Gala TV’s “leading market position and proven ability to generate popular TV shows for its own channels and export”, the firm said.

Potential acquirers are reported to include Taiwanese conglomerate Formosa Plastics Group.

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