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3 years ago
Citic Pacific plans to buy parent company's assets - Bloomberg
March 26, 2014 / 8:57 AM / 3 years ago

Citic Pacific plans to buy parent company's assets - Bloomberg

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March 26 (Reuters) - China's Citic Pacific Ltd is planning to acquire assets from its state-owned parent Citic Group Corp, Bloomberg reported, citing people familiar with the situation.

The deal could be valued at about $40 billion and Citic Pacific plans to sell shares as part of the proposed transaction, Bloomberg said. (link.reuters.com/cet87v)

Citic Pacific shares were suspended from trading on March 24, pending an announcement.

Citic Pacific could not immediately be reached by Reuters for comment. (Reporting by Supriya Kurane in Bangalore, additional reporting by Donny Kwok in Hong Kong; Editing by Joyjeet Das)

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