Beijing Enterprises Water, CITIC PE To Acquire Majority Stake Of Jin Cai

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CITIC Private Equity has teamed up with Beijing Enterprises Water Group Limited to acquire a majority stake of Hong Kong-listed cigarette package maker, Jin Cai Holdings Company Limited, for approximately HK$3.75 billion (US$484 million) in total, according to a securities filing.

Jin Cai Holdings plans to issue about 1.41 billion new ordinary shares, which represents about 81.54% of the enlarged issued ordinary shares, and around 3.34 billion convertible preferred shares at HK$0.79 apiece, a discount of about 43.57% to the last trading price.

China Money Network

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