Citic Bank acquires US$1.7 billion stake in CIFH

    | BY

    clpstaff &clp articles

    Citic Bank acquires US$1.7 billion stake in CIFHChina CITIC Bank acquired a 70.32% interest in CITIC International Financial Holdings (CIFH), an investment…

    Citic Bank acquires US$1.7 billion stake in CIFH

    China CITIC Bank acquired a 70.32% interest in CITIC International Financial Holdings (CIFH), an investment holding company of Hong Kong-based CITIC Ka Wah Bank, for US$1.7 billion. Citic Bank entered into the share purchase agreement with Chinese financial conglomerate CITIC Group and Gloryshare Investments on May 8. The cash deal still requires shareholder approval.

    This premium content is reserved for
    China Law & Practice Subscribers.

    • A database of over 3,000 essential documents including key PRC legislation translated into English
    • A choice of newsletters to alert you to changes affecting your business including sector specific updates
    • Premium access to the mobile optimized site for timely analysis that guides you through China's ever-changing business environment
    For enterprise-wide or corporate enquiries, please contact our experienced Sales Professionals at +44 (0)203 868 7546 or [email protected]