French firm Gide Loyrette Nouel and Skadden, Arps, Meagher, Slate & Flom are advising on a Chinese investment bank’s acquisition of a stake in a brokerage business owned by Crédit Agricole.
Shenzhen-based Citic Securities International Co. Ltd. will pay France’s Crédit Agricole Corporate & Investment Bank $374 million for a 20 percent interest in two brokerage and research units, CLSA Asia-Pacific Markets and Crédit Agricole Cheuvreux. Crédit Agricole will retain a controlling stake in both businesses.
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