CITIC announces deal delay
Updated: 2013-07-01 15:36
By Chen Jia (chinadaily.com.cn)
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CITIC Securities announced a one-month delay inthe purchase of CLSA Asia-Pacific Markets, as "there are still prerequisites that have not yet reached".
Contracting parties came to an agreement that, by July 31, CITIC Securities will take over the remaining 80.1 percent shares of CLSA.
The deal was previously planned to finish by the end of June.
"Other terms and conditions in the merger deal will remain unchanged," the statement said.
In November, CITIC Securities decided to buy all the shares of CLSA at a price of $941.68 million, after it purchased 19.9 percent of the French company’s shares in July 2012.
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