Chinese firms repaid their debts to J&T
Chinese state-owned company Citic has repaid the €450m debt owed by the Chinese private group CEFC to the Slovak-Czech group J&T. J&T will in turn withdraw its representatives from the management of CEFC Europe and several of its subsidiaries. Citic will control 9.9% in the J&T Finance Group, previously held by CEFC. The Chinese state-owned firm will have indirect control over a stake in Poštová banka, Slovakia’s 6th largest bank by assets.