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  • August 22, 2014
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  1. Business - Comment - MONEY MATTERS

    Citic Pacific's acquisition of Citic Group is merely state sleight of hand

    Posted May 17th 2014, 01:56am by Shirley Yam

    ... Shirley Yam It is billed as a pioneering move to promote reform and make a square appear to be round, but the reality is that the square remains a square Citic Pacific parent acquisition is merely state sleight of hand The mainland's new round of state-owned enterprise reform has brought much excitement. Yet, if Citic Pacific's acquisition of its parent Citic Group ...

  2. Business - Companies - ACQUISITIONS

    Citic Pacific shareholders approve landmark deal

    Posted Jun 04th 2014, 05:08am by Ray Chan

    ... Ray Chan ray.utchan@scmp.com Go-ahead for 227 billion yuan takeover of parent Citic Group's assets marks the start of mainland move to reform state enterprises Citic Pacific shareholders approve landmark deal Citic Pacific shareholders have voted almost unanimously for the company to buy nearly all the assets of parent firm Citic Group, cementing a landmark 227 billion ...

  3. Business - Companies - SHARES

    Citic Pacific agrees to asset acquisition from parent

    Posted Apr 17th 2014, 01:09am by Eric Ng

    ... Eric Ng eric.mpng@scmp.com Red chip will pay for assets from parent by issuing it with shares worth 177b yuan and 50b yuan in shares sold to institutional buyers Citic Pacific signs on to asset acquisition Citic Pacific has agreed to buy almost all of its parent's assets not already under the Beijing-backed steel-to-property Hong Kong-listed firm for 227 billion yuan ...

  4. Business - China Business - ACQUISITIONS

    Citic Pacific to provide investors with details on 226.9b yuan asset deal

    Posted May 14th 2014, 01:20am by Eric Ng

    ... to explain massive asset deal Citic Pacific, the mainland's largest conglomerate and the Hong Kong-listed flagship of state-owned Citic Group, is expected to issue today a circular to its ... of acquisition of its land lots," said an analyst covering Citic Pacific. "Comments on the business outlook of the assets will also help us make profit projections." Citic Pacific ...

  5. Business - China Business - ACQUISITIONS

    Citic Pacific unveils star backing for landmark deal

    Posted May 15th 2014, 01:43am by Eric Ng

    ... Eric Ng eric.mpng@scmp.com Conglomerate says 15 government funds and institutional investors will subscribe for shares to help pay for parent company's injection Citic Pacific secures backing for asset deal Citic Pacific has reached agreement with 15 government funds and leading institutional investors to subscribe for HK$39.5 billion of shares it will issue to finance ...

  6. Business - China Business - ACQUISITIONS

    Citic Pacific to take over assets of parent

    Posted Mar 27th 2014, 12:58am by Eric Ng

    ... Eric Ng and Ray Chan Deal will see the Hong Kong listed arm acquire diverse range of businesses for 225 billion yuan as part of the mainland's enterprise reforms Citic Pacific to take over assets of parent Steel-to-property conglomerate Citic Pacific has signed a preliminary agreement to buy essentially all of its parent company's assets not already under its control ...

  7. Business - Money - ACQUISITIONS

    Citic Pacific shares fallon asset deal approval

    Posted Apr 18th 2014, 01:17am by Eric Ng

    ... Eric Ng eric.mpng@scmp.com Citic Pacific shares fallon asset deal approval Citic Pacific shares fell after it agreed to buy 227 billion yuan (HK$284.9 billion) of assets from its ultimate ... to book value were behind the stock's 3.1 per cent fall to end at HK$13.86 yesterday. On Wednesday, it closed at HK$14.30. "We believe Citic Pacific's share price performance ...

  8. Business - Companies - REFORM

    Citic's shift to Hong Kong seen as role model for other mainland SOEs

    Posted Jun 04th 2014, 05:08am by Bloomberg

    ... as successful, "other Chinese enterprises will follow suit". The plan, announced in March and to be completed by August, involves Citic's Hong Kong holding firm, Citic Pacific, paying the parent US$36 billion in cash and stock for at least 29 China subsidiaries. In doing so, Citic gets to rejuvenate the once-high-flying Citic Pacific, whose troubled history includes billion-dollar ...

  9. Business - Banking & Finance - TAKEOVERS

    How did international banks miss Citic Pacific's US$36 billion takeover deal?

    Posted Apr 01st 2014, 01:20am by George Chen

    ... brains behind Citic Pacific buyout Jealous. This is the word many Western bankers in Hong Kong will use when they talk about the mega-sized reverse takeover deal of Citic, one of the most ... Pacific acquire its assets in a deal valued at about US$36 billion. The only help that senior executives at Citic received was from a small team of Beijing-based merger and acquisition ...

  10. Citic Pacific loses fight to block probe into fraud

    Posted Mar 19th 2011, 12:00am by Naomi Rovnick

    ... Naomi Rovnick Citic Pacific, the Beijing-backed steelmaker and property developer, yesterday lost a two-year battle to block a Hong Kong police fraud investigation into its failure ... Citic Pacific did not admit to its losses from an unauthorised punt on the Australian dollar until six weeks after they occurred. The company, which is part of the massive Citic conglomerate, ...




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