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Regulators approve share transfer of Morgan Stanley’s stake in CICC

KKR, TPG, Government of Singapore Investment Corporation and The Great Eastern Life Assurance Company have received all required regulatory approvals for the purchase of Morgan Stanley’s stake in China International Capital Corporation.

Li Jiange, chairman of CICC, says: "This year is CICC’s 15th anniversary. The change in our shareholding will have a very positive strategic impact on CICC and benefit its long-term development. We introduced new shareholders while also receiving additional investment from GIC, our long-time existing shareholder. Both demonstrate the investors’ recognition of CICC’s achievements in the past 15 years and full confidence in CICC’s long term growth prospects. The introduction of some of the most prominent international institutional investors will help CICC in its future business development and international expansion."

The investors said: "We are delighted to have this opportunity to invest in CICC, one of the most prestigious and successful financial institutions in China. CICC has played a pivotal role in the development of China’s financial industry. As China takes an ever more prominent position in the world’s financial markets, CICC has the potential to become a leading financial institution internationally. We are proud to become shareholders of CICC, and GIC is pleased to increase its stake. We are all committed to creating value for CICC’s continued strong development by fully utilizing our global resources and expertise."

CICC is China’s first joint venture investment bank. It was established in August 1995 as a partnership among Chinese and international financial institutions and corporations. Headquartered in Beijing, CICC has set up offices in locations including Hong Kong, New York, London and Singapore.

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