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C » Topics » Sale of NikkoCiti Trust

This excerpt taken from the C 10-Q filed Aug 7, 2009.

Sale of NikkoCiti Trust

        On July 1, 2009, Citigroup entered into a definitive agreement to sell all of the shares of NikkoCiti Trust and Banking Corporation (NCT) to Nomura Trust & Banking Co., Ltd. for an all cash consideration of $197 million, subject to certain closing purchase price adjustments. The sale is expected to close in the fourth quarter of 2009, subject to regulatory approvals and customary closing conditions.

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