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October 06, 2015 11:38 AM ET

Industrial Conglomerates

Company Overview of CITIC Group Corporation

Company Overview

CITIC Group Corporation, together with its subsidiaries, provides various financial services in the People's Republic of China and internationally. It operates through six segments: Finance, Real Estate and Infrastructure, Engineering Contracting, Resources and Energy, Manufacturing, and Other Services. The company offers commercial banking services; brokerage, margin trading, securities lending, and QFII and research services; credit asset securitization, cash management trust, and small and medium enterprises trust services; and insurance services. It also provides micro-pawn, finance lease, and factoring services; fund management services; funding for various projects; and private equitie...

Capital Mansion

6 Xinyuannanlu

Chaoyang District

Beijing,  100004



86 10 6466 0088


86 10 6466 1186

Key Executives for CITIC Group Corporation

Vice Chairman, President, Member of Executive Committee and Member of Nomination Committee
Age: 55
Chief Financial Officer
Age: 52
Executive Director and Member of Executive Committee
Age: 60
Head of the Accounting Department and Employee Supervisor
Age: 60
Compensation as of Fiscal Year 2015.

CITIC Group Corporation Key Developments

LSE's Sale of Russell Investments to CITIC May Collapse

Bloomberg reported that the $1.8 billion sale of Frank Russell Company by London Stock Exchange Group plc (LSE:LSE) to CITIC Group Corporation may get collapsed. People with knowledge of the matter said that the plunge in the Chinese stock market since mid-June has derailed the discussions. Talks with CITIC Securities haven’t been completely shelved, another person said.

CITIC Telecom To Bid For Stake In CITIC Networks

On August 24, 2015, CITIC Group Corporation and CITIC Telecom International Holdings Limited (SEHK:1883) agreed to implement the acquisition arrangement whereby CITIC Group has proposed to sell and CITIC Telecom has proposed to bid (or to procure its subsidiary including CPC to bid) for, in an open tender process at China Beijing Equity Exchange, up to 39% equity interest in CITIC NETWORKS Co.,Ltd. from CITIC Group. The final consideration for the acquisition is expected not to exceed CNY 1.287 billion. CITIC Telecom has appointed Platinum Securities Company Limited as advisor for the transaction. The stake will be put up for sale in May 2016.

Korea Development Bank Reportedly Seeks To Sell Stakes In Daewoo Securities

Korea Development Bank will consider an option to sell its controlling stake in Daewoo Securities Co., Ltd. (KOSE:A006800) to a Chinese group as it seeks to find a preferred bidder by the end of this year, people familiar with the matter said on August 23, 2015. Anbang Insurance Group Co., Ltd. and CITIC Group Corporation may join the auction to sell the Korean brokerage company, said an official from a creditor bank. KDB plans to hold a board meeting on August 24, 2015, to vote on the sale plan and to hold a press conference at its headquarters in Yeoido, western Seoul. Next month, KDB plans to name a lead manager to handle the auction and start the process from November. The deal will collapse if there are not multiple bidders.

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