Prudential has agreed to delay acquisition: TaishinBy Kao Shih-ching / Staff reporterTaishin Financial Holding Co (台新金控) yesterday said it has gained Prudential Financial Inc’s approval to delay its purchase of the US company’s Taiwanese unit as it awaits the Financial Supervisory Commission’s (FSC) approval of the acquisition. “We keep in close contact with the US company and update it about our latest communication with the FSC,” Taishin Financial president Welch Lin (林維俊) told a virtual investors’ conference in Taipei. Lin did not reveal how much additional time Taishin Financial would be granted, saying that it was striving to obtain the FSC’s approval. Taishin Financial Holding Co president Welch Lin is pictured at an investors’ meeting in Taipei in an undated photograph. Taishin Financial reported that its securities unit, Taishin Securities Co (台新證券), has become its second-largest profit contributor, accounting for 9 percent, or NT$394 million, of its total profits last quarter, after its banking arm, Taishin International Bank (台新銀行).

Source: Taipei Times May 19, 2021 15:56 UTC