Citic Securities to Sell Stake in China Asset Management

May 27, 2011

On May 25, 2011, WSJ.com reported that Hong Kong-based Citic Securities Co. plans to sell a 51% stake in its wholly owned asset management company in order to meet Chinese regulatory requirements.


On May 25, 2011, WSJ.com reported that Hong Kong-based Citic Securities Co. plans to sell a 51% stake in its wholly owned asset management company for at least $1.16 billion.  The firm seeks to reduce its stake in China Asset Management Co. to 49% in advance of a planned Hong Kong listing in order to meet Chinese regulatory requirements that limit Chinese companies’ stakes in mutual fund companies to 49%.

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Investment Manager M&A, Mutual Fund M&A, Transactions