TAIPEI, July 6 (AP) -- Taiwan's government said on Thursday it has approved a US$412.8 million (€330 million) investment by the U.S.-based Carlyle Group in a Taiwanese cable operator.

The investment fund, together with syndicated loans sought by Carlyle, will give the U.S. private equity company a majority stake in Eastern Multimedia Co., a leading Taiwanese cable-television operator, said Emile M.P. Chang, deputy executive secretary of Investment Commission.

Carlyle's total investment in the company could reach US$1.4 billion (€1.1 billion), officials said.

The U.S. firm's stake in Eastern Multimedia will not exceed the 60 percent ceiling imposed on foreign control of local media firms, Chang said. But he declined to give details.

In addition, the commission also approved Carlyle's US$102.7 million (€80 million) investment in Eastern Broadcasting Co., a Taiwanese cable TV station, Chang said.

The acquisitions come as cash-rich private equity firms are looking for lucrative deals in Asia.

Last December, Carlyle sold its Taiwan Broadband Communications business to Macquarie Media, a unit of Australia's Macquarie Bank Ltd., for about US$900 million (€720 million).

Private equity firms, which raise cash from wealthy individuals and institutions, buy companies or units of companies with an aim of improving the businesses and reselling them.