* Delay follows Taiwan regulatory snag
* CITIC, Credit Agricole push deadline to end-July
PARIS, June 28 China's CITIC Securities
said on Friday that it had agreed to extend by a
month a deadline for a final deal to acquire French bank Credit
Agricole's CLSA Asian brokerage unit.
Earlier this month, sources had told Reuters that the $1.25
billion agreement had hit a snag in Taiwan as regulators
resisted a plan for CITIC, a Chinese company, to own an entity
on Taiwanese turf.
This regulatory stand-off over the sale of CLSA shows the
sensitivities in Taiwan towards China taking a stake in the
local economy. But a rejection by Taiwan would be unlikely to
kill the deal or impact the asking price, one source also told
Reuters earlier this month.
In the statement announcing the postponement of the deadline
to July 31 from June 30, CITIC said only that certain of the
deal's conditions had not yet been satisfied or waived.
"Both parties are working towards completion of the 80.1
percent acquisition on or before 31, July 2013," CITIC's
Credit Agricole and CITIC announced the two-part deal last
July. CITIC agreed to buy 19.9 percent of CLSA and pledged to
buy the rest within months. The deal was conditional on securing
all regulatory approvals and was set to close around mid-2013.
(Reporting By Christian Plumb. Editing by Jane Merriman)