carlyle-swaps-shares-in-kbro-for-taiwan-mobile-stake

Carlyle swaps shares in kbro for Taiwan Mobile stake

In a billion-dollar deal, private equity firm Carlyle swaps its stake in Taiwan's kbro to become the second-largest shareholder in Taiwan Mobile.

Private equity firm Carlyle Group will swap its stake in Taipei-based kbro for a 15.5% stake in Taiwan Mobile, through a deal with an estimated transaction value of NT$32.8 billion $1 billion. Taiwan Mobile is the counterparty in the share swap and will become the majority owner of kbro, which is one of Taiwan's largest cable television operators.

The deal consolidates the operations of the two firms to create the largest pay TV service provider in Taiwan, with over 1.5 million subscribers and an estimated market share of 32%. Taiwan Mobile is one of Taiwan's leading telecommunications operators.

The deal is being transacted at a valuation of 10 times the Ebitda generated by...

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