TOKYO (Reuters) - Japanese trading house Itochu Corp and Thailand's Charoen Pokphand Group (CP) are hammering out final details to jointly invest about 1 trillion yen (5.6 billion pounds) in China's Citic Group, the Nikkei business daily reported on Tuesday.
Itochu and CP Group plan to contribute evenly to the investment in the Chinese conglomerate, together taking a roughly 20 percent stake, the Japanese newspaper reported, without saying where it got the information.
An Itochu spokesman said the company was checking the report.
In December, a person familiar with the matter had told Reuters that CITIC Ltd was in early talks with companies including Itochu and CP Group about a large share placement.