Zhonglun, KWM act on CITIC Securities’ $1.92 bln acquisition of Guangzhou Securities
King & Wood Mallesons has advised CITIC Securities on its $1.92 billion acquisition of Guangzhou Securities from its parent company Yuexiu Financial Holdings, with Zhong Lun Law Firm advising the seller.
The payment was made by privately placed new shares and the seller became CITIC Securities’ second largest shareholder when the deal closed. Guangzhou Securities was renamed as CITIC Securities South China Company thereafter.
Being the largest securities company in China, this is the latest move by CITIC Securities of its successive acquisitions since 2003, which include Wantong Securities, Huaxia Securities, Kington Securities and CLSA Asia-Pacific Markets. With Guangdong Securities’ root in South China, CITIC will further enhance its influence in the Greater Bay Area and along the Belt and Road regions.
The Zhong Lun team was led by partner Yu Hongbin; the KWM team was led by partners Gao Yimin, Jia Diyan and Jiang Yifeng.
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