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China Construction Bank unit acquires 75% stake in metal supplier

unit CCB International (Holdings)Ltd. said April 6 that it completed the acquisition of a 75% stakein metal supplier Metdist Trading Ltd., through subsidiary CCB InternationalSecurities Ltd.

Themetal supplier's name will change to CCBI Metdist Global Commodities (UK) Ltd.A category 1 or ring dealing member of the London Metal Exchange, it will continue to provide afull range of LME derivatives products.

TheLME and LME Clearing Ltd., along with China Construction Bank, had signed amemorandum of understanding in 2015 to cooperate strategically in industrialmetal trading and Chinese yuan clearing services, among other areas.