CITIC PE, Beijing Enterprises Water to buy majority stake in Jin Cai
CITIC Private Equity has teamed up with Beijing Enterprises Water Group to acquire a majority stake in Jin Cai Holdings, a Hong Kong-listed cigarette packaging manufacturer that wants to enter the clean energy space.
The entire deal is worth HK$3.7 billion ($477 million) and will see the buyers take a 77% stake in Jin Cai. They will apply for a whitewash waiver in order to avoid triggering a mandatory general offer...
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