Citic Securities completes CLSA deal amid integration scrutiny

The purchase is the first major deal by a Chinese broker of a foreign peer.

Citic Securities completes CLSA deal amid integration scrutiny
Citic says the acquisition of CLSA will help to double its RoE by 2015

Citic Securities has completed its acquisition of Hong Kong-based broker CLSA, the first major deal by a Chinese broker of a foreign peer.

The two-part acquisition was first announced in July last year, when China’s largest securities house by market value agreed to buy a 19.9% stake in the Asian brokerage unit of French bank Credit Agricole for $310.3 million.

Citic Securities then agreed to pay a further $941.68 million for...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES