Taiwan govt to review Carlyle's proposed purchase of ASE in late Jan at soonest |
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Published
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Fri, 12 Jan 2007 02:58
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TAIPEI (XFN-ASIA) - The Investment Commission is ready to review the application filed January 10 by private-equity firm Carlyle Group for acquiring Advanced Semiconductor Engineering Inc (2311.TW) later this month at the earliest, a senior commission official said.'After receiving the application on Wednesday, we will pass on the case to other government agencies, including the Financial Supervisory Commission and the central bank,' the commission's executive secretary, Huang Chintan, said.'Normally they have about 10 days to present their views on such matters, but it may take a bit longer for cases regarded as 'more complicated' than others,' he said.The commission convenes once a month, normally in the second half of each month, he added.Huang said Carlyle plans to set up a subsidiary in Taiwan that will conduct the acquisition of ASE shares from the open market.US-based Carlyle filed the application after its announcement in late November that it was heading a group of investors that wanted to make an all-cash acquisition of ASE for 5.94 bln usd, or 39.00 twd per share.As of 9.27 am, ASE Inc was up 0.60 twd at 37.35.(1 usd = 32.80 twd)philip.wang@afxasia.compw/net
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