CP Group and Itochu raise $470m in Citic block

The sale of the jointly held 1% is a precursor to Itochu and CP Group's upcoming $10.4 billion purchase of a 20% stake in Citic - one of the largest transactions in a Chinese SOE.
April 12, 2015

Charoen Pokphand Group, overseen by Thailand’s wealthiest man Dhanin Chearavanont, and Japanese trading firm Itochu, have through a joint-subsidiary offloaded their entire 1% stake in Citic Limited and raised $470 million in the process.

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