Citic Pacific moves closer to $36.4 billion deal

The company raises HK$39.5 billion ($5.1 billion) to help pay for the deal for Citic Ltd by selling shares to 15 strategic investors.

Citic Pacific moves closer to $36.4 billion deal

Citic Pacific has moved closer to completing the purchase of Citic Ltd from its parent Citic Group for Rmb227 billion $36.4 billion after raising HK$39.5 billion $5.1 billion by selling 2.932 billion shares to 15 strategic investors.

Citic Pacific, a Hong Kong-listed company specialising in iron ore mining, property development and specialty steels, planned to fund the acquisition of Citic Ltd with Rmb50 billion in cash and via a massive Rmb177 billion new...

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