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2007-11-22 09:07:00 a.m. HKT, XFNA
Taiwan's Prime View, HK-listed Alco, Varitronix team up to buy SKorean firm
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TAIPEI (XFN-ASIA) - Taiwan's Prime View International Co Ltd (8069.TW)
and Hong Kong-listed Alco Holding Ltd (328HK) and Varitronix International
Ltd (710HK) have teamed up to buy 95 pct of South Korea's BOE Hydis
Technology Co Ltd for 260 bln won, according to a statement from Prime View.
The consortium signed a memorandum of understanding with the Korean firm
regarding the acquisition, it said.
Prime View will hold 78 pct interest in the consortium, while Alco and
Varitronix will take 11 pct each.
The deal will boost Prime View's capacity in small- to medium-size liquid
crystal display panels.
The transaction is expected to be completed in the first quarter of 2008.
Credit Suisse is serving as financial advisor to the consortium.
BOE Hydis, the South Korean unit of China's BOE Technology Group Co, had
filed for bankruptcy protection last year.
(1 US dollar = 928.9 won)
adela.lin@afxasia.com xfnal/xfnrc
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