From: Paul Morris

From: Paul Morris To: [email protected] Subject: Date: Fri, 27 Sep 2013 15:25:24 +0000 Classification: Public CARLYLE INVESTS IN BEATS Beats Electronics, which has drawn in many fans of its colorful, expensive headphones, has now attracted the support of the Carlyle Group, a top private equity firm, DealBook's Michael J. de la Merced reports. Beats, which was founded by the music impresarios Dr. Dre and Jimmy Iovine, said on Friday that it secured a minority investment from Carlyle to help finance growth. Carlyle is paying $500 million, according to a person briefed on the matter, valuing the music company at more than Si billion, Mr. de la Merced reports. The firm will also take two of six seats on Beats' board. In addition, the audio company will buy back the 25 percent stake in itself held by Hit, the Taiwanese smartphone company. Paul Morris Managing Director Deutsche Bank Private Bank 345 Park Avenue, 27th Floor New York. NY 10154 This communication may contain confidential and/or privileged information. If you are not the intended recipient (or have received this communication in error) please notify the sender immediately and destroy this communication. Any unauthorized copying, disclosure or distribution of the material in this communication is strictly forbidden. Deutsche Bank does not render legal or tax advice, and the information contained in this communication should not be regarded as such. EFTA00663437