CITIC Capital Partners, the private equity arm of CITIC Capital, has agreed to sell its entire 67.1 percent stake in Hong Kong-based packaging materials company Tri-Wall Holdings to Japan-based packaging manufacturer Rengo for a reported US$222 million. CITIC originally invested in Tri-Wall in a transaction structured through CITIC Capital Partners Japan funds and CITIC Capital Partners International funds. The transaction, which is subject to closing conditions including regulatory approvals, is expected to close on 31 October 2016.