Citic Securities Strikes US$ 374 Mln Deal with Credit Agricole

(Beijing) -- Citic Securities Co., the brokerage arm of China's state-owned Citic Group, announced June 9 that it will acquire 19.9 percent of two of France's Credit Agricole SA's brokerage units for US$ 374 million.

According to the announcement, Citic Securities International Co., the Hong Kong-based subsidiary of Citic Securities, is taking a 19.9 percent stake in each of Credit Agricole's Asian and European brokerage units, CLSA Asia-Pacific Markets and Credit Agricole Cheuvreux.