SAC Private Capital, the private equity arm of US hedge fund group SAC, and GE Money are injecting a combined $900 million for an 80 percent stake in Taiwan’s Cosmos Bank.
The two groups are buying shares and bonds at NT$2 per share, which represents a discount of about 63 percent to Cosmos’ closing price of NT$5.47
SAC Private Capital acquires Taiwanese bank at a steep discount
SAC Private Capital, the private equity arm of a US hedge fund group, has acquired a control stake in Cosmos Bank at a discount, saving it from government receivership.
