CITIC Capital completes AsiaInfo-Linkage take-private

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Chinese alternative investment firm CITIC Capital has finally closed its acquisition of telecommunications software company AsiaInfo-Linkage, for around $900m.

AsiaInfo, which posted $547.9m of revenue in 2012, is China’s largest provider of telecommunication software. This is China’s second-largest private equity-sponsored privatisation and CITIC Capital’s sixth take-private transaction.

The deal, which was first reported as being in the pipeline back in January 2012, will see Citic provide around $300m of equity for the Nasdaq-listed company, which is expected to de-list within the month.

Global private equity firms including KKR and TPG Capital were at one point believed to be bidding, alongside unnamed strategic acquirers.

Founded in 2002, CITIC Capital manages over $4.3bn of capital. It is owned by sovereign wealth fund China Investment Corporation, China’s largest conglomerate CITIC Group and Qatar Holding.

Citic is reportedly also close to investing in a new US hedge fund founded by former execs of defunct currency investor FX Concepts, according to the South China Post.

The firm is reportedly also close to investing in a new US hedge fund founded by former execs of defunct currency investor FX Concepts, according to the South China Post.

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