In a deal that may set the record for number of parties whose names contain “Citic”, Hong Kong-based Citic Pacific (0267.HKG) paid US$6.9 billion in cash to its state-owned parent, Citic Group, completing a HK$286.6 billion (US$37 billion) purchase of assets from the latter in exchange for Citic Corp, Bloomberg reported, citing the company’s Monday stock exchange filing. Citic Pacific issued 17.3 billion new shares to units of its parent in exchange for Citic Corp, and also completed the private sale to investors of 3.95 billion shares, raising US$6.9 billion, the company said in the Hong Kong stock exchange filing yesterday. Citic Pacific, to be renamed Citic, said in April it would buy assets ranging from financial services to energy and property from parent Citic Group, China’s first state-owned investment corporation.