Aug. 23, 2012 (China Knowledge) - CITIC Capital Holdings Ltd, an alternative investment management and advisory firm, announced that Qatar Holding LLC, a wholly-owned subsidiary of Qatar Investment Authority, has acquired a 22.22% stake in the company by purchasing new shares.
After the deal, CITIC Pacific Ltd<0267
> and CITIC International Financial Holdings Ltd will jointly hold a 42.78% stake in CITIC Capital, China Investment Corp (CIC), the country's sovereign wealth fund, will hold a 31.11% stake in the company. While the rest 3.89% shares will be held by the management and the trustee of the share scheme of CITIC Capital.
Zhang Yicheng, CEO of CITIC Capital, has said the addition of the new shareholder will provide powerful capital support as well as consolidate the company's leading position in alternative investment management industry.
It is believed that the new shareholder will further expand CITIC Capital's business network and resources and to manage the company with higher standards, Zhang added.
As at the end of 2011, Qatar Holding LLC holds 22.18% H-shares in Agricultural Bank of China Ltd<601288
>, which account for 2.1% of the its issued share capital.