Taiwan’s Wei family is set to take control of the country’s largest cable TV broadcaster in a $2.4bn deal that is the latest example of the struggles private equity can face in exiting Asian investments.

MBK Partners, the South Korean private equity group, will sell its 60 per cent of China Network Systems to the Wei family – best known for its control of Tingyi, the Hong Kong-listed noodle-making giant – for at least $2.4bn including debt, according to people familiar with the matter.

The deal is MBK’s second attempt to offload its stake, bought for about $1.5bn in 2007. In 2010, it struck a deal for about the same amount with Taiwanese tycoon Tsai Eng-meng, chairman of Want Want, maker of rice cakes and other snacks. But that deal, needing regulatory approval, unravelled in 2012 amid controversy over pro-China comments Mr Tsai made in a newspaper interview.