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FSC approves Taishin bid for Prudential’s local unit END OF VOTING RIGHTS: The sale of Taishin Financial Holding Co’s shares in Chang Hwa Bank would end its decades-long management dispute with the Ministry of Finance By Kao Shih-ching / Staff reporter The Financial Supervisory Commission (FSC) has approved Taishin Financial Holding Co’s (台新金控) application to acquire Prudential Life Insurance Co of Taiwan (保德信人壽), after it committed to selling all of its shares in Chang Hwa Bank (CHB, 彰化銀行) to fund the acquisition and to inject capital into the life insurer, the commission said yesterday. Taishin Financial later announced that it would sell its CHB shares within six years and would not nominate new CHB board members or exercise its voting rights in the state-run bank’s board elections, ending its decades-long management dispute with the Ministry of Finance.

T ai peiChang hwaZhanghua xianChang yu huiKelson wangWelch linChang hwa bankInsurance bureau deputyBanking bureauPrudential life insurance coTaipei timesTaishin financial holding coFinancial supervisory commissionKao shih chingTaishin financialPrudential life taiwan