Saturday, March 7, 2015   

State fund in talks to buy stake in CITIC unit
(02-05 18:55)

China's sovereign wealth fund is in talks to buy up to 50 percent of CITIC Capital Holdings, an investment arm of state financial conglomerate CITIC Group, state media said.

The deal could be worth hundreds of millions of US dollars, based on CITIC Capital's registered capital, China Daily reported, citing a source.

China Investment Corp, the US$200 billion (HK$1.56 trillion) sovereign wealth fund, is likely to buy the stake from CITIC Pacific, which currently owns 50 percent of CITIC Capital.

A spokeswoman with CITIC Pacific declined to comment on the report while officials at CITIC Capital and CIC were not immediately available for comment.

AGENCE FRANCE-PRESSE   
Other Business breaking news:
Euro tumbles to yet another low (03-06 20:38)
BP seals US$12b Egypt gas deal (03-06 19:23)
Greece seeks EU meeting next week (03-06 18:45)
Uptick in German factory output (03-06 18:31)
Beijing says Colombo Port City project halted temporarily (03-06 17:41)
A hit or miss case for Apple Watch (03-06 17:29)
Nikkei finishes higher (03-06 16:39)
European stocks mixed at open (03-06 16:38)
Hang Seng dips at close (03-06 16:29)
Fosun secures 5pc stake in Thomas Cook (03-06 14:02)

More breaking news >>

© 2015 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2015, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.