China's CITIC to pay $310 mln for initial CLSA stake
PARIS, July 20 |
PARIS, July 20 (Reuters) - CITIC Securities has agreed to pay $310.32 million for an initial 19.9 percent stake in Credit Agricole's CLSA brokerage unit, with an option to buy the rest for $910.68 million, the companies said on Friday.
The banks said in a statement that they expect to agree to sell the remaining 80.1 percent of the brokerage by June 30, 2013 at the latest.
(Reporting by Christian Plumb; Editing by Elena Berton)
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