Cleary Gottlieb represented Newbridge Asia in an $800 million investment in Taishin Financial Holding Co., Ltd, which owns 100% of Taishin International Bank, a leading retail bank in Taiwan. Newbridge acquired ordinary shares, preferred shares and convertible bonds representing approximately 22% of Taishin Financial Holding Co.’s share capital on an as-converted basis. The acquisition of the equity portion of the transaction closed on March 22, and the acquisition of convertible bonds closed on May 5.
Newbridge Asia is an affiliate of the Texas Pacific Group and focuses on investing in public and private debt and equity securities of companies that operate a substantial portion of their businesses in Asia.