TAIPEI 101:The Ministry of Finance, the largest shareholder of these firms, said the next step is to seek majority control over TFCC’s board in the December elections

Taipei Times
Date: May 09, 2015
By: Crystal Hsu  /  Staff reporter

State-run financial institutions yesterday announced plans to buy a 7.7 percent stake in Taipei Financial Center Corp (TFCC, 台北金融大樓公司) from Cathay Financial Holding Co (國泰金控), a deal that would expand the government’s majority stake in the Taipei 101 operator.

The transaction, which still requires the approval of the Financial Supervisory Commission, would cost NT$2.79 billion (US$90.69 million), or NT$27.9 per share, the parties involved said in separate stock exchange filings.

The figure is much lower than an earlier NT$46 per share offer by a Malaysian land developer for Ting Hsin International Group’s (頂新國際集團) 37.17 percent stake in TFCC.     [FULL  STORY]