Recent history
CITIC Pacific bought most of the assets from the parent company and issued new shares to the parent, making most of the assets of CITIC Group were listed in a stock exchange. However, CITIC Group still retained the stake in CITIC Guoan Group.
In 2014 the name of the company was also changed from CITIC Pacific Limited to just CITIC Limited.
On 20 January 2015, the Japanese general trading company Itochu and its Thai cross-shareholding affiliate Charoen Pokphand announced an investment of approx. HK$80 billion (US$10.4 billion) in CITIC Limited, the largest investment ever made by a Japanese general trading company.[13] The transaction is also the largest acquisition in China by a Japanese company, and the largest investment by foreigners in a Chinese state-owned enterprise.[14]
The deal saw Chia Tai Bright Investment, a 50–50 joint venture of Itochu and Charoen Pokphand, acquire a 10% stake of CITIC Limited from CITIC Group for HK$34.4 billion (US$4.54 billion), as well as subscribing new convertible preferred shares for HK$45.9 billion (US$5.9 billion).[15] Before the deal, CITIC Group owned 77.90% stake, with National Social Security Fund owned an additional 5.00%, making only 17.1% shares of CITIC Limited were free float at 31 December 2014. The company also had HK$13.834 billion perpetual capital securities at 31 December 2014.[16]
On 9 January 2017 the consortium of CITIC Limited, private equity funds of CITIC Capital and Carlyle, bought 80% stake of the franchise rights of McDonald's in Hong Kong and mainland China, for a total consideration of up to US$2.08 billion. CITIC Limited and CITIC Capital would own 52% stake collectively (via an intermediate holding, Fast Food Holdings in a 61.54–38.46 ratio, indirectly owned 32% and 20% stake respectively), while Carlyle would own 28% separately. 20% stake would be retained by McDonald's via Golden Arches Investments Limited (the trading name of McDonald's Hong Kong).[17] In January 2020, CITIC invited other investors to buy most of their stake in the aforementioned Fast Food Holdings.[18][19]
