Citigroup Inc. and State Street Corp. announced that they have entered into a definitive agreement to sell CitiStreet, a benefits servicing business, to ING Group in an all-cash transaction valued at US$900 million.CitiStreet is a joint venture formed in 2000, which is owned 50% each by Citi and State Street. The firm provides a range […]
U.S. banking giant Citigroup Inc. announced that it has commenced an offering of approximately US$3 billion of common stock, as it aims to shore up its capital position.Citi expects the offering to include an over-allotment option to purchase additional shares of common stock. The firm says that, on a pro forma basis, after giving effect […]
Rating outlook for bank is negative, Fitch says
Firm will become liquidity provider in new Tradeweb markets
Reorganization driven by global business reviews
Also resolves litigation with holders of Enron credit-linked notes
Klein named chairman, Havens becomes CEO
Further market erosion could result in additional charges
Bank raising US$12.5 billion through a private placement
Cut reflects exposure to subprime assets