Date
18 December 2017

CITIC Pacific to buy CITIC Ltd. for 225 bln yuan, filing says

CITIC Pacific Ltd. (00267.HK) said in an exchange filing Wednesday that it’s in talks with parent CITIC Group Corp. and Beijing CITIC Enterprise Management Co., Ltd. to acquire all of the issued shares of CITIC Ltd. According to a framework deal signed Wednesday, CITIC Pacific will pay a combined 225 billion yuan (US$36.23 billion) in cash and newly issued shares for the stake, the filing said. An unnamed person close to CITIC Group said the move shows the parent aims to integrate all of its assets and list overseas this year, the 21st Century Business Herald reported Thursday.

– Contact HKEJ at [email protected]

TL/AC/SK

 

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