Citigroup (C) Sells Stake in HDFC for $1.9B; Sees Post-tax Gain of $722M
- Market Wrap: Family Dollar Rejects Deal; Home Depot's New Chief; Major Settlement for BofA
- After-Hours Stock Movers 8/21: (OGXI) (GME) (TFM) Higher; (BORN) (ARO) (MENT) Lower (more...)
- Salesforce.com, Inc. (CRM) Tops Q2 EPS by 1c; Issues Inline Q3 EPS Outlook
- Home Depot (HD) Appoints Craig Menear as CEO
- Intuit, Inc. (INTU) Misses Q4 EPS by 6c, Offers Guidance, Announces Dividend
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).
You May Also Be Interested In
- Citigroup (C) Tests Waters to Unload Consumer Banking Operations in Japan
- Bank of America (BAC) Said to Reach $17B Settlement Over RMBS Probe
- Vornado Realty Trust (VNO) Reports Sale of Georgetown Park in $272.5M Deal
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!