And we have a deal: Hong Kong-listed Chinese conglomerate Citic has agreed to sell a 20.6 per cent stake to Itochu and Charoen Pokphand Group for HK$82bn ($10.4bn).
The deal was trailed by the Nikkei newspaper overnight, prompting Itochu, a Japanese trading company, to confirm that it was considering an investment alongside partner CPG, the private Thai conglomerate run by Dhanin Chearavanont.
Now, Citic has confirmed the deal and offered details. It's a two-part transaction, according to a release to the Hong Kong Exchange.
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