Chinese regulators have given Morgan Stanley the green light to sell its stake in China International Capital Corp., Reuters reported. Morgan Stanley has long wanted to sell the 34.3% stake in CICC, Reuters said, adding that private equity firms Kohlberg Kravis Roberts & Co. and TPG Capital are expected to buy the stake for more than $1 billion.

SHANGHAI (Reuters) – Bei Duoguang, a veteran banker at China International Capital Corp (CICC), Morgan Stanley’s (MS.N) China venture, will soon leave the country’s biggest investment bank after over 12 years, two people with knowledge of the situation said on Friday. It was not clear why Bei was leaving or where he was heading, the [...]

BEIJING (Reuters) – China International Capital Corp (CICC), the country’s biggest investment bank, is planning to raise a $300 million fund in September, stepping up its efforts to tap into China’s lucrative private equity sector. The dollar fund would be raised through CICC’s Hong Kong unit and CICC would contribute about 10 percent of the [...]

BEIJING (Reuters) – Morgan Stanley (MS.N) has found buyers for its stake in Chinese investment bank China International Capital Corp, CICC Chairman Li Jiange said on Thursday. The firms have reached a consensus regarding the stake sale and the deal was awaiting regulatory approval, Li said. “The deal has been proceeding very smoothly and has [...]

HONG KONG (Reuters) – Three U.S. private equity firms are on a shortlist to submit final bids for Morgan Stanley’s (MS.N) $1 billion plus stake in China’s top investment bank, three sources briefed on the bidding process said on Tuesday. Kohlberg Kravis Roberts & Co., Bain Capital and TPG Capital are competing to buy a [...]

HONG KONG (Reuters) – Private equity firms Bain Capital and General Atlantic are among those eyeing Morgan Stanley’s (MS.N) stake in China International Capital Corp (CICC), the country’s largest investment bank, in a deal that could fetch more than $1.2 billion. Morgan Stanley paid just $37 million for its piece of CICC when the Chinese [...]

SHANGHAI (Reuters) – China International Capital Corp (CICC), the country’s biggest investment bank, and government-owned Shanghai International Group (SIG) are setting up a private equity venture that will manage up to 20 billion yuan ($2.9 billion), a senior CICC executive said on Wednesday. The new venture, to be named Golden Partners Capital, is aiming to [...]