By Engen Tham
The Shanghai Stock Exchange (SSE) said on Thursday it has signed an agreement with the financial centre of the Republic of Kazakhstan to acquire a 25.1 percent stake in the country’s exchange. The Shanghai exchange will cooperate with the Astana International Finance Centre on strategy and technology consulting, business planning,… Read more »
The funds raised will be used for the acquisition of land reserves and general working capital.
This comes as President Xi Jinping pushes for “One Belt, One Road.”
The transaction follows strategic cooperation between the two parties from early 2016.
Ares Management also joined this round via its first RMB fund.
Hutchison is owned by Li Ka-Shing, Hong Kong’s richest man.
The deal values the firm at $590 million.
UCAR is listed on China’s New Third Board.
The previous vehicle had raised $500 million in less than 6 months.
The conglomerate has joined the $900 million auction for The Body Shop.