Authorized By The Regulatory Authorities To Approve The Sale Of CICC Shares
Beijing time on the morning of October 19th, media reports said that at present, the sale of China International Capital Co 34.3% stake in Da Mo has already been obtained.
US regulatory authorities
Approval.
People familiar with the matter disclosed to Reuters in February this year.
Dalmore
It was bought at a price of $37 million 13 years ago.
CICC
34.3% stake.
The company hopes to sell these shares to Kravis Roberts and TPG Capital, which is now expected to sell over $1 billion.
The Shanghai Securities News quoted an unnamed insider as saying that the relevant regulatory bodies have agreed to sell the shares of China gold shares in the company, but the paction needs to be assessed before pferring the official approval.
Since the loss of China gold company's control, the grand Mama has been actively looking for the opportunity to withdraw from the CICC.
Earlier market had speculated that KKR and TPG of private equity firms would share the shares of CICC.
But there are also speculation that the company will deal with a buyer group that may include commercial banks or securities companies.
The article also adds that the approval process is expected to be completed by the end of this month.
According to media reports, the company is ready to form a new securities company in the mainland of China.
The sale of China Gold by Tai Mo is the way to pave the way for this plan.
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