CITIC Pacific offers to buy distributor Dah Chong Hong for $385m

CITIC Pacific offers to buy distributor Dah Chong Hong for $385m

A man stands in front of CITIC bank's branch in Beijing, China, in this March 23, 2016 file photo. REUTERS/Kim Kyung/File Photo

CITIC Pacific Ltd said on Sunday it will offer to buy Dah Chong Hong Holdings Ltd for HK$3.02 billion ($385.1 million) to “re-engineer” the businesses of the motor and consumer products distributor for improved competitiveness.

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