CITIC Securities in deal for CLSA
Source: Bloomberg News |
July 21, 2012, Saturday
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Print Edition
Print Edition
CITIC Securities Co, China's largest brokerage by market value, has agreed to buy Credit Agricole SA's Asian CLSA brokerage unit for US$1.25 billion.
Citic Securities yesterday completed its previously agreed purchase of a 19.9 percent stake in CLSA for US$310.3 million, according to a statement to the Shanghai Stock Exchange. Citic will buy the remaining 80.1 percent stake from the French bank for US$941.7 million subject to it meeting certain conditions, the company said.
Citic Securities yesterday completed its previously agreed purchase of a 19.9 percent stake in CLSA for US$310.3 million, according to a statement to the Shanghai Stock Exchange. Citic will buy the remaining 80.1 percent stake from the French bank for US$941.7 million subject to it meeting certain conditions, the company said.
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