Carlyle to raise $900 mil for cabler

U.S. buyout firm will take majority stake in EMC

U.S. buyout firm Carlyle Group will raise $900 million through a local currency loan as part of its $1.3 billion acquisition of Taiwanese cabler Eastern Multimedia Corp.

Loan reportedly is being arranged by Citigroup and Taipei Fubon bank, and if completed, will be Asia’s second-largest leveraged buyout deal outside of Japan.

Acquisition, announced in April, sees Carlyle take a majority stake in EMC, Taiwan’s leading cable TV operator, with 4.5 million subscribers and a 23% market share as of December 2005. Its affiliate, Eastern Broadcasting, had a further 1.05 million clients.

Carlyle outbid other foreign investors including a Newbridge Capital-Liberty Media consortium from the U.S. and Australia’s Macquarie Media.

In December, Macquarie bought Carlyle’s stake in Taiwan Broadband Communications, a cabler with a 13% share, for $890 million.

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