Last week, Taishin Financial Holding Co and the Ministry of Finance announced that they had settled a dispute over state-run Chang Hwa Commercial Bank’s management rights, with Taishin Financial withdrawing its Supreme Court case against the ministry. Taishin Financial also sold 1.048 billion Chang Hwa Bank shares to other financial institutions for NT$19.09 billion (US$636.97 million), or NT$18.2 per share, in a block trade, the company said in a regulatory filing. The agreement ended a 17-year dispute, but at great cost.
In 2005, Taishin Financial outbid six competitors to purchase Chang Hwa Bank’s 1.4 billion special shares for NT$36.57 billion, or