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CEFC China to buy 20 pct stake in U.S. brokerage Cowen

March 29 Chinese conglomerate CEFC China said on Wednesday it would acquire an about 20 percent stake in U.S. brokerage Cowen Group Inc for about $100 million.

CEFC China has also agreed to provide Cowen with $175 million in debt financing, the companies said.

CEFC will pay $18 for each Cowen Class A share, representing a 29.5 percent premium to the stock's Tuesday close. (Reporting by Sruthi Shankar in Bengaluru; Editing by Saumyadeb Chakrabarty)

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