Cathay Financial Unit To Purchase Taishin Financial Shares For $156.2M

Cathay Financial Holding Co

reported that its life insurance unit has agreed to purchase a 3.45% of Taishin Financial Holding Co from TPG Inc for NT$4.74 billion (US$156.2 million). Cathay Financial's unit will buy 258.98 million Taishin convertible preferred shares at NT$18.30 each. The deal is expected to complete by February 29.