Reuters: Mergers News: Carlyle hires J.P. to sell Taiwan bank stake-sources

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Carlyle hires J.P. to sell Taiwan bank stake-sources Apr 26th 2012, 09:40 HONG KONG, April 26 | Thu Apr 26, 2012 5:40am EDT HONG KONG, April 26 (Reuters) - Private equity firm Carlyle Group has hired J.P. Morgan to sell its around $330 million stake in Taiwan's Ta Chong Bank, sources said on Thursday, in a deal that could lead to consolidation in Taiwan's low-margin bank industry. Carlyle may be working to convince other shareholders at the bank to add their stakes to the sale in order to offer a controlling stake to buyers, the sources said. According to public disclosures, Carlyle owns a 23.76 percent stake in Ta Chong. But a source familiar with the matter previously told Reuters that through options and other vehicles, Carlyle's stake totals around 40 percent. The sources could not be named because the matter was private. Carlyle and J.P. Morgan declined comment. A Ta Chong Bank spokesman said he was not aware of the process.

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