Citi (C) Signs Agreement to Sell NikkoCiti Trust and Banking Corporation For $197.1 Million
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Nikko Citi Holdings Inc. (NYSE: C) announced today that a definitive agreement has been executed to sell all of the shares of NikkoCiti Trust and Banking Corporation to Nomura Trust & Banking Co. Ltd. Nomura Trust will pay an all-cash consideration of 19 billion yen (US$197.1 million at an exchange rate of ¥96.42 to US$1.00), subject to certain purchase price adjustments, at the closing. The sale is expected to close in the fourth quarter of 2009, pending regulatory approvals and other closing conditions.
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