Citic/CLSA JV

Citic Securities to buy 19.9% stake in CLSA

China's biggest stockbroker will pay $374 million for a minority stake in CLSA and a 19.9% stake in Credit Agricole Cheuvreux, after initial plans to combine their businesses in China ran into regulatory hurdles.

<div style="text-align:left;"> Citic Securities agrees to buy a minority stake in Hong Kong-based CLSA after more than a year of negotiations (AFP)</div>

Anette Jönsson

June 13, 2011

Citic Securities, China’s biggest stockbroker and one of its leading investment banks, will invest a total of $374 million to become a minority shareholder in Hong Kong-based brokerage and investment group CLSA and its European counterpart, Credit Agricole Cheuvreux.

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