MBK Taiwan

MBK sees CNS exit for about $2.4b after aborted effort

MBK is selling its 60% stake in Taiwan’s biggest cable TV broadcaster at the second attempt after tussles with the regulator; a salutary lesson in the risks of Asian deal making.

MBK Partners is selling its 60% stake in China Network Systems CNS for about $2.4 billion including debt to Taiwan’s Wei family, after a protected investment period and a clash with regulators, according to a person familiar with the matter.

The sale to the Wei family, known for their control of noodle-maker Tingyi, still needs regulatory approval but MBK hopes this time it will get the green light.

The deal has been through several twists and turns, including one exit falling through, plans for an IPO and now another sale. “It hasn’t been easy,” said one person involved.

The private equity firm tried to...

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