China Huarong Asset Management Co., Ltd. (SEHK:2799) agreed to acquire 5.01% stake in CITIC Limited (SEHK:267) from CITIC Polaris Limited for HKD13.6 billion on November 15, 2023. The Group expects to fund the consideration for the Acquisition by the Group?s own funds. The resolution in relation to the Share Transfer Agreement and the Acquisition has been approved by the Shareholders of the Company at the EGM; the Acquisition has been approved by Ministry of Finance of the PRC; and the Acquisition has been approved or filed with the National Development and Reform Commission of the PRC and the Ministry of Commerce of the PRC. Gram Capital has been appointed by China Huarong Asset Management Co., Ltd. as the Independent Financial Adviser.

China Huarong Asset Management Co., Ltd. (SEHK:2799) completed the acquisition of 5.01% stake in CITIC Limited (SEHK:267) from CITIC Polaris Limited on December 22, 2023.