Citigroup Inc. Announces Indicative Tender Results

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Citigroup (C) Will Sell Consumer Banking Unit Located in Czech Republic

September 14, 2015 6:10 AM EDT

Citigroup (NYSE: C) signed an agreement with Raiffeisenbank a.s. to sell its consumer banking business in the Czech Republic. The sale is subject to regulatory approvals and includes Citis retail banking and cards businesses, consumer banking employees, branches and ATMs in the Czech Republic, which will transfer to Raiffeisenbank upon closing. The transaction is expected to close in Q1 2016, subject to customary closing conditions. The financial terms of... More