Nordic private equity firm EQT Partners has acquired 100 percent of Taiwanese TV channel operator Gala TV (GTV) alongside its CEO Poa-Chuan Lin.
It is unclear how the stakes are split between the two parties. EQT also declined to comment on the transaction size.
Established in 1997, GTV produces Chinese-language programmes across four channels. According to an EQT statement, Taiwanese local cable TV advertising market grew by 26 percent to NT$7.8 billion (€196.4 million; $265.3 million) in the first half of 2010, up from NT$6.2 billion in the same period in 2009.
The investment was made from EQT Greater China II, a $535 million vehicle that closed in January 2007. The fund is focused primarily on mid-market buyout and control investments based in or connected with China, Hong Kong and Taiwan.
EQT has been actively deploying the fund as of late.
Last month, EQT acquired a 96 percent stake in UK-based food importer and distributor Classic Fine Foods (CFF) from Vestey Group, with the intention of expanding its operations into China.
In December last year, EQT completed the acquisition of a 65 percent stake in Chinese bakery chain Qinyuan Bakery. The deal followed a 30 percent interest investment in Modern Metal & Precision, a Chinese manufacturer of aluminum die casting.