March 26 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
(Reporting by Supriya Kurane in Bangalore, additional reporting
by Donny Kwok in Hong Kong; Editing by Joyjeet Das)