Citic to Buy 60% Stake in Star Thrive Investments for HK$1.33 Billion

By Joanne Chiu Features Dow Jones Newswires

A unit of Citic Ltd. (0267.HK) has agreed to pay 1.33 billion Hong Kong dollars ($170.2 million) for a controlling stake in Star Thrive Investments Ltd. through a new share sale.

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The Hong Kong-listed diversified conglomerate controlled by China's Citic Group Corp. said after markets closed Friday that it plans to buy a 60% stake in Star Thrive.

Star Thrive owns a majority interest in a producer of chloride titanium dioxide, a chemical that can be applied in plastic, ceramic, electronic and cosmetic industries.

Write to Joanne Chiu at joanne.chiu@wsj.com

(END) Dow Jones Newswires

September 29, 2017 06:43 ET (10:43 GMT)