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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment, Market

AsiaInfo jumps as Citic said to be in talks over buyout

Posted on 29 November 2012

AsiaInfo-Linkage Inc. (ASIA) rose to an eight-week high in New York on prospects Citic Capital Holdings Ltd., controlled by the sovereign wealth funds of Qatar and China, is close to acquiring the Chinese software services provider.
The shares gained 3.3 percent to $11.34 by 10:55 a.m. in New York on trading volumes 24 percent above the daily average over the past three months. AsiaInfo is poised for its highest close since Oct. 1. Citic Capital sold a 22 percent stake in itself to Qatar Holding LLC in August, giving the fund additional capital for making overseas acquisitions. China Investment Corp. owns 31.1 percent of the company, which oversees more than $4.4 billion………………………………………..Full Article: Source


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