China Everbright sells its brokerage business and forms JV

    April 29, 2011 | BY

    clpstaff &clp articles

    Hong Kong-listed financial services company, China Everbright has disposed of 51% of the share capital of its brokerage business, Everbright Securities…

    Hong Kong-listed financial services company, China Everbright has disposed of 51% of the share capital of its brokerage business, Everbright Securities International (ESI) to Everbright Securities Company (ESC) for US$114 million. ESC is a Shanghai Stock Exchange-listed company.

    After the disposal, China Everbright and ESC will become joint venture partners, allowing China Everbright access to ESC's extensive network across China to develop its business.

    Vivian Lam, a Hong Kong partner at Paul Hastings Janofsky & Walker acted for China Everbright. Allen & Overy advised ESC.

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