Chongqing Casin, property and investment firm, agrees to deal; Sale expected to close in second half; terms not disclosed
2/5/16 – (Bloomberg Business) The Chicago Stock Exchange said a Chinese investor group agreed to acquire it, giving the buyer entry into the intensely competitive U.S. equity market.
Chongqing Casin Enterprise Group has signed a definitive agreement to acquire the company, according to a statement Friday, which didn’t give financial terms. The exchange said the deal is expected to close in the second half of the year, though that will require regulatory approval. The Exchange could become a venue to list Chinese companies.
Why does a provincial Chinese business with no apparent ties to the securities industry have any interest in buying one of America’s smallest equity exchanges? And will U.S. regulators sign off?