CITIC Securities announced on the evening of July 20th, 20 12 that the board of directors held on that day passed the Proposal on the Acquisition of 0/00% Equity of CLSA by CITIC Securities International Co., Ltd., a wholly-owned subsidiary, which will include all the equity of CLSA, with a total consideration of12.52 million US dollars.
This acquisition is not in one step. CITIC International will pay USD 365,438+00.32 million in advance to complete the delivery of 65,438+09.9% equity acquisition of CLSA, and complete the acquisition of the remaining 8,065,438+0% equity of CLSA with USD 946,543.80 million on the basis of completing the internal and external approval procedures related to subsequent transactions. At present, the sale of CLSA 19.9% shares to CITIC Securities has been completed, and CITIC Securities International and Credit Suisse Oriental signed an irrevocable option agreement on the remaining 80. 1% shares of CLSA. Once Credit Agricole France has completed the negotiation procedure of the workers' representative committee in accordance with French regulatory requirements, it has the right to sell the remaining 80. 1% equity of CLSA to CITIC Securities International in accordance with relevant provisions after consultation with trade union representatives. Both parties intend to complete all transaction procedures before June 30, 20 13.
The specific acquisition content has also changed compared with the previous announcement version: on July 3, 20 1 1, CITIC Securities International, Credit Agricole France and CASA BV entered into a 19.9% equity transfer agreement, and CITIC Securities International agreed to acquire CLSA and Fu Sheng securities directly or indirectly held by Credit Agricole France. However, due to the complexity of integrating CLSA and Fu Sheng Securities, in the latest announcement, all parties unanimously agreed to exclude Fu Sheng Securities from the original scope of 19.9% equity acquisition.
Analysts said that the transaction is of great significance to CITIC Securities and the securities industry. CITIC Securities is expected to develop cross-border business by acquiring CLSA and relying on CITIC Securities International to enhance its voice in international business, which is highly complementary to its own business model.