Bank of China contributes to a $180.5 million USD syndicated loan for CITIC Capital Holdings and Caixin Global's takeover of Euromoney's Global Markets Intelligence Division

Project narrative

On February 12, 2018, a consortium of CITIC Capital Partners Management Limited, the private equity arm of Hong Kong-incorporated Chinese alternative investment firm CITIC Capital Holdings Limited, and Chinese privately-held media company Caixin Global Limited, entered into an agreement with international business information company Euromoney Institutional Investor PLC, to purchase Euromoney's Hong Kong-headquartered Global Markets Intelligence Division (GMID), consisting of CEIC and EMIS, to the consortium for $180.5 million USD in cash. To support the acquisition, the Bank of China (BOC) and HSBC Bank entered into a $180.5 million USD syndicated loan agreement with an unspecified borrower. Euromoney's GMID is headquartered in Hong Kong; it provides macro-economic, company, and industry intelligence in emerging markets, with customers in China, India, Brazil, Central and Eastern Europe, and developed markets. CEIC provides a global economic database of over 200 countries and 18 macroeconomic sectors and EMIS provides business information for financial institutions, consultants, multinational corporations, and researchers on over 125 countries and regions and over 250 industries. GMID had an operating profit of £11.9 million GBP ($15.1 million USD) and gross assets of £45.3 million GBP for the year ended September 30, 2017. Upon completion of the acquisition, CITIC Capital, Caixin Global, and the management team of GMID would jointly manage GMID's affairs. The acquisition was expected to be completed by the end of April 2018. The acquisition was completed on April 30, 2018. On November 16, 2020, CITIC Capital and Caixin Global announced the sale of ISI Emerging Markets Group to private equity firm Montagu.