Sovereign fund eyes stake in CITIC arm
By Lillian Liu | China Daily | Updated: 2009-02-05 07:50
HONG KONG: China Investment Corp (CIC), the country's largest sovereign wealth fund, is in talks to buy up to 50 percent of CITIC Capital Holdings Ltd, an investment arm of conglomerate CITIC Pacific, a source familiar with the deal said.
The deal could be worth hundreds of millions of US dollars, based on CITIC Capital's registered capital, the source said.
The talks between executives at CIC, CITIC Pacific and its parent company CITIC Group have been going on for several months but no final decision on financial details have been confirmed, the source said.
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