Citic Securities and US investment bank Evercore Partners will form a joint venture to advise on cross-border M&A transactions, the Wall Street Journal reported. Citic Securities International Partners will be headed by Donald Tang, former vice chairman of Bear Stearns, and the lead negotiator during a cross-investment deal between Citic and Bear that fell through after Bear was absorbed by J.P. Morgan last year. The new deal is expected to give Citic more overseas reach and expanding Evercore’s presence in Asia. Citic says that its private-equity operations would introduce a US dollar fund focused on Chinese companies in resources, food and agriculture.
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