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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

Temasek exits Citic Resources with sale

Posted on 23 November 2016

Singapore sovereign wealth fund Temasek has sold its entire 10 percent stake in state backed CITIC Resources. The shares were sold to Singaporean private equity fund TIHT Investment at HK$1.235 each, CITIC Resources said in a filing to the local exchange with the acquisition cost is estimated at HK$971 million.
CITIC Resources said Temasek will cease to be a shareholder while TIHT is to become a substantial shareholder. One fourth or 25 percent of Temesek’s portfolio was in China as of March 31, its published review shows. In 2015, it was 27 percent………………………………………Full Article: Source


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