Sidley Austin, Ashurst and Freshfields Bruckhaus Deringer are advising on a $10.4 billion investment into Chinese state-run conglomerate Citic Ltd. by Thai conglomerate Charoen Pokphand Group Co. Ltd. and Japanese trading house Itochu Corp.
Citic is the Hong Kong-listed arm of China’s Citic Group, a massive conglomerate that has interests in everything from banking to real estate to energy. In the deal, CP Group—which is controlled by Dhanin Chearavanont, Thailand’s richest man—and Itochu are buying a total of 5.8 billion Citic shares, giving them a 20.61 percent stake in the company.
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