China Huarong to Buy Stake in Citic for Over $1.7 Billion

China Huarong to Buy Stake in Citic for Over $1.7 Billion

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State-owned China Huarong Asset Management has agreed to buy a minority stake in another state-run conglomerate, Citic Ltd., for 13.63 billion Hong Kong dollars (US$1.75 billion). Huarong will acquire a 5.01% stake from Citic Polaris, a wholly owned unit of Citic Ltd., the state-owned…

#citicltd #huarong #citicpolaris

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