Qatar buys 22% stake in China's CITIC Capital

Unit of Gulf state's SWF purchases stake in Chinese investment firm, itself part of China's SWF
Qatar buys 22% stake in China's CITIC Capital
By Reuters
Wed 22 Aug 2012 02:02 PM

CITIC Capital Holdings said on Wednesday a unit of Qatar's sovereign wealth fund has subscribed to new shares in the Chinese investment firm, equivalent to a 22 percent stake.

CITIC Capital, partly owned by China's sovereign wealth fund, did not give financial details of the investment by Qatar Holding, a unit of Qatar Investment, in its newly issued shares.

"Not only will Qatar Holding provide us with an enlarged capital base to fund our business expansion and investments, its significant backing will strengthen our brand positioning meaningfully as the most preferred and committed partner to invest with, both in and outside China," CITIC Capital's CEO, Yichen Zhang, said in a statement in English.

CITIC Capital's shareholders include China's sovereign wealth fund, China Investment Corporation, and Chinese financial conglomerate CITIC Group.

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