Australia's Macquarie Group has bought Taiwan Broadband Communications (TBC) for A$1.2 billion ($6.9 billion), ending months of speculation and talks with current owner Carlyle Group.
The purchase is split between Macquarie Media Group and Macquarie Bank, with the Australian media fund taking 60 per cent and the investment bank 40 per cent of Carlyle's stake.
TBC chief executive David Dea will remain in his current post.
Foreign investment regulations limit Macquarie to owning less than 60 per cent of TBC. According to Macquarie executives, more than 40 per cent of equity will be held by an unidentified Taiwanese investor in the form of preferred stock.
Macquarie Media owns and operates Australia's largest network of radio stations with 85 licences covering more than 60 per cent of the non-urban population.
By buying TBC, Macquarie now has control of Taiwan's third-largest cable-television provider with 650,000 cable subscribers and 90,000 internet subscribers.