EQT Greater China II (“EQT Greater China”) has sold Gala TV Corporation (“Gala TV” or the “Company”), one of the leading cable TV channel operators in Taiwan, to Yung-tsai Investment Co. Ltd, an investment vehicle jointly owned by WANG Yung-tsai, WANG Weng-Tsao and WONG Wen-Yuan.
Gala TV operates four cable TV channels in Taiwan offering a mixture of in-house produced, commissioned and acquired content. GTV-Drama is the prime drama channel in Taiwan while GTV-One and GTV-Variety are among the leaders in the variety genre. Gala TV was established in 1997 and has over the years produced and accumulated a library of many popular Chinese-language TV programs.
EQT Greater China acquired Gala TV in 2011 and appointed an industrial Board of Directors with media experts to support the Company in further developing its content production capability.
Martin Mok, Partner at EQT Partners, Investment Advisor to EQT Greater China, comments: “Gala TV has developed its offering and content production during EQT Greater China’s ownership and is today a cable TV channel operator with strong in-house content production capability. We are convinced that Gala TV will continue its growth path with Yung-tsai Investment as their new partner.”
The transaction received regulatory approvals on July 25, 2014 and closed on August 8, 2014.
Martin Mok, Partner at EQT Partners, Investment Advisor to EQT Greater China, +852 2971 5850
Johan Hähnel, EQT Greater China Spokesperson, +46 8 506 55 334
EQT is the leading private equity group in Northern Europe, with portfolio companies in Northern and Eastern Europe, Asia and the US with total sales of more than EUR 25 billion and over 500,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
More information can be found on www.eqt.se
About Gala TV Corporation
Gala TV offers a mixture of in-house produced, commissioned, and acquired content. The Company was established in 1997 and has over the years produced and accumulated a library of many popular Chinese-language TV programs. Gala TV operates 4 cable channels, which include: GTV-One, GTV-Variety, GTV-Drama and K-Channel in Taiwan.
More information can be found on www.gtv.com.tw