Citigroup (C) Sells Stake in HDFC for $1.9B; Sees Post-tax Gain of $722M
- Apple (AAPL) Tops Q4 EPS by 11c; Issues Solid Outlook
- Market Wrap: IBM Profits Miss Mark; eBay Loses Noted Director; Merger Monday is Back
- After-Hours Stock Movers 10/20: (ILMN) (HLX) (AAPL) Higher; (RNO) (KALU) (UCTT) (CMG) Lower (more...)
- Chipotle Mexican Grill (CMG) Tops Q3 EPS by 31c, Offers Guidance
- AbbVie (ABBV), Shire (SHPG) Terminate Merger Talks
Citigroup Inc. (NYSE: C) has sold 145.3 million shares in Housing Development Finance Corporation Ltd. (HDFC) through the National Stock Exchange, representing the entirety of its 9.85% interest, for INR 657.56 per share. Total proceeds from the transaction are expected to be $1.9 billion at the current exchange rate, resulting in a pre-tax gain to Citigroup of $1.1 billion (INR 54.9 billion), and an after-tax gain of approximately $722 million (INR 35.5 billion).
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Trinity Industries (TRN) Active; Loses Trial Over $1B Highway Guardrail Lawsuit, Says Bloomberg
- Hannon Armstrong (HASI) Makes $144M Investment in JP Morgan-Associated Wind Portfolio
- Marsh & McLennan (MMC) to Acquire WYO Insurer Service Provider, Torrent Technologies
Create E-mail Alert Related CategoriesCorporate News, Mergers and Acquisitions
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!