ITOCHU Corporation/Charoen Pokphand Group $10.4 billion acquisition of 20% of CITIC

Overview:

• ITOCHU Corporation and Charoen Pokphand Group (CP Group), have acquired 20% of CITIC for $10.4 billion.
• CITIC is a Chinese state owned conglomerate (China International Trust Investment Corporation).
• The two stage deal will see 2.5 billion shares changing hands in April 2015, and a further 3.3 billion shares in October 2015.
• CITIC is a Chinese state owned conglomerate (China International Trust Investment Corporation).
• ITOCHU is a Japanese conglomerate.
• CP Group is one of Thailand's largest private businesses and one of Asia's leading conglomerates.
• The deal is the largest foreign investment into a Chinese state-owned-enterprise.
• This is the largest investment ever made by ITOCHU.

Katrin Kostadinova - Data analyst