August 01, 2014 11:23 AM ET

Diversified Financial Services

Company Overview of CITIC Group Company

Company Overview

CITIC Group Company operates as an industrial conglomerate that offers banking, financial, manufacturing, and communication services through its subsidiaries. It provides securities, insurance, and trusts and funds related services. Additionally, CITIC Group offers construction contracting; and real estate and infrastructure development, trading, and information technology related services. The company has a strategic alliance with Itochu Corp. CITIC Group Company was founded in 1979 and is based in Beijing, China with additional offices in New York, New York; Tokyo, Japan; and Almaty, Kazakhstan.

6th Floor

Xin Yuan Nan Road

Chaoyang District

Beijing,  100004

China

Founded in 1979

Phone:

86 10 6466 0088

Fax:

86 10 6466 1186

Key Executives for CITIC Group Company

Vice Chairman and President
Age: 57
Chief Financial Officer and Director
Age: 51
Vice President and Executive Director
Executive Director
Age: 73
Executive Director
Compensation as of Fiscal Year 2014.

CITIC Group Company Key Developments

Investors Reportedly Nearing $2 Billion Deal To Buy Stake Huarong

Goldman Sachs and Warburg Pincus are among the investors nearing a deal to buy up to 20% stake in China Huarong Asset Management Co., Ltd. for about $2 billion, people familiar with the matter told Reuters. Other investors preparing to buy into China's biggest bad debt manager include Khazanah Nasional Bhd, CITIC Group, China International Capital Corp, Fosun Group and COFCO Corp, the people added. Huarong is planning to sell the stake to strategic investors ahead of an eventual initial public offering and the seven investors are likely to sign an agreement over the next month, said the people.

CITIC Pacific Seeks To Sell Stake Worth HKD 30 Billion

CITIC Pacific Ltd. (SEHK:267) said it plans to sell more than HKD 30 billion of shares to strategic investors to help finance the acquisition of the assets of its parent company, CITIC Group Company. Citic Pacific didn't identify the investors in a filing to the Hong Kong exchange. The share placement will seek to raise CNY 50 billion, and Citic Group will get shares worth about CNY 177 billion, or 78% of the total, it said. The buyout of Citic Group's assets is set to be completed by August 29, 2014 assuming shareholders approve the deal.

CITIC Group Mulls IPO In Hong Kong

CITIC Group Company is seeking to launch its initial public offering in Hong Kong. The planned listing, through a multibillion-dollar asset injection into Citic's Hong Kong unit, Citic Pacific Ltd., is a coup for the city's stock exchange. With the asset injection, Citic Group will no longer be raising $10 billion from a Hong Kong IPO. A person familiar with the transaction said that the plan to bulk up Citic Pacific through the injection isn't a backdoor listing or a reverse merger according to Hong Kong listing rules, as there is no change of control--the Chinese state remains the key shareholder of the listed Citic Pacific.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
March 26, 2014
CITIC Limited
Merger/Acquisition
December 24, 2013
CITIC NETWORKS Co., Ltd.
 

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