Pvt equity firm Apollo to buy Citi Property Investors -Bloomberg
2010-03-10 05:35:45
Keywords: United States of America,Banks,Banks (industry group),Financials,Real estate (industry),Real Estate Markets,Mergers and Acquisitions (including Changes of Ownership),Investment services,Private equity funds,Fund management and asset allocation,Financial s
Quote: private equity firm Apollo
Management LP [APOLO.UL] has agreed to buy Citigroup's (C.N)
real estate investment division, Bloomberg said, citing a
person with knowledge of the deal. The inclusion of Citi Property Investors to Apollo's
portfolio will more than triple the private equity firm's real
estate assets, the agency said. City Property Investors' portfolio includes 65 investments
in 26 countries with a net asset value of $3.5 billion,
according to the agency. Apollo signed a letter of inten...
Read article[$$] Apollo Signs Citigroup Deal
2010-03-10 05:35:45
Quote: Apollo Global Management LP has signed an agreement to buy Citigroup Inc.'s real-estate investment business, according to two people familiar with the matter. Final negotiations are still taking place, but the deal could close in the next few months, the people said. The deal likely means déjà vu for investors in Citigroup's real-estate funds. Joseph Azrack, who headed the business, known as Citi Property Investors, from 2004 to 2008, is now building a real-estate platform for Apollo...
Read articleUPDATE - Market Chatter -- Corporate finance press digest
2010-03-10 05:35:44
Keywords: United States of America,United Kingdom,Western Europe,Europe,Mergers and Acquisitions (including Changes of Ownership),Private equity funds,Banks (industry group),Financials,Business activities,Contract between 2 or more corporate entities,Fund managemen
Quote: UPDATE 1-Market Chatter -- Corporate finance press digest
(Adds Citigroup and Union Properties) BANGALORE, March 10 (Reuters) - The following corporate
finance-related stories were reported by media on Wednesday: * U.S. private equity firm Apollo Management LP [APOLO.UL]
has agreed to buy Citigroup's (C.N) real estate investment
division, Bloomberg reported, citing a person with knowledge of
the deal. [ID:nSGE629062] * British bank Barclays Plc (BARC.L) is looking to buy a
retail bank in the Un...
Read articleCaution Rules as Major Indexes Inch Forward
2010-03-10 05:35:43
Keywords: Mergers & Acquisitions, Investment Banking, I PO, I.P.O.s, IPOs, Offerings, Private Equity, Hedge Funds, Venture Capital, Legal, The New York Times, Andrew Ross Sorkin, Andrew Sorkin, DealBook, deal maker, Wall street, wall st., Goldman Sachs, Goldman Sa
Quote: While shares of Cisco were flat, telecommunications firms gained, with Sprint Nextel surging 6.47 percent.
Citigroup rose more than 7 percent amid reports that the government was planning to reduce its stake in the company.
American International Group climbed nearly 13 percent on speculation that it was preparing to sell more assets after jettisoning two major insurance units.
Treasury’s 10-year note rose 5/32, to 99 12/32. The yield fell to 3.70 percent, from 3.72 percent late Monday.
...
Read articleCitigroup sells Japan ski resort to Malaysia's YTL
2010-03-10 05:35:43
Keywords: Japan,Asia,Emerging countries,Malaysia,Banks,Banks (industry group),Financials,United States of America,Private equity funds,Multiline utilities,Construction and engineering (industry),Banking services,Financial service providers,Fund management and asset
Quote: Citigroup sells Japan ski resort to Malaysia's YTL
TOKYO, March 10 (Reuters) - Citigroup Inc (C.N) has sold one
of Japan's most famous ski resorts, Niseko Village, to Malaysia's
YTL Corp (YTLS.KL), with the property and power conglomerate
seeking to develop it into a world class summer and winter
destination. Niseko Village, sold for 6 billion yen ($67 million), is
popular with Chinese and Australian skiers and a mecca for
domestic snowboarders due to its quality powder snow. Located on the nor...
Read articleCiti Increases Contributions to the New 'CauseWorld' App from shopkick, Inc.
2010-03-09 07:27:58
Quote: CauseWorldusers are also benefiting Haitian and Chilean earthquake relief efforts.CitiCiti's new microfinance causes and additional financialcontribution underscore their focus on creating sustainable impact."shopkick is backed by Kleiner Perkins and Reid Hoffman.Apple'siPhoneGoogle'sAndroidiPhoneCitiKraftFoods so that the user can spend collected karmas on real worldcharitable actions like planting trees, feeding families in America orproviding clean water to people in Sudan.FacebookAmericanRed...
Read article[$$] Citi's Shedlin to Join Morgan Stanley
2010-03-09 07:27:58
Quote: BY MATTHIAS RIEKERAND JESSICA PAPINI NEW YORK—Gary Shedlin, a senior Citigroup Inc. investment banker who has advised BlackRock Inc. on many deals, is joining Morgan Stanley. Mr. Shedlin, 46 years old, was Citigroup's chairman of investment banking for financial institutions, a position without management responsibility, and will hold a similar post at Morgan Stanley, where he will be a vice chairman, Morgan Stanley confirmed. David Head, 48, will continue to lead Citi's .........
Read articleDEALTALK-Spurned by banks, China property firms court PE funds
2010-03-09 07:27:57
Keywords: Asia,China,Emerging countries,Real estate (industry),Fund management and asset allocation,Mergers and Acquisitions (including Changes of Ownership),
Quote: Citigroup Inc's (C.N) private bank joined hands with
state-owned conglomerate China Resources Group to raise about
$500 million for real estate funds to invest in Chinese
shopping malls, Reuters reported last month. [ID:nSGE61O0BR] Last week, Franklin Templeton's real estate arm said it
aims to raise $300 million for its second Asian real estate
fund, which includes China as a market focus. Developers used to turn to the stock market for
fund-raising via IPOs. Most investors, however, are no lon...
Read articleUPDATE - Citi hires ex-Tribridge partner to head Asia distressed
2010-03-09 07:27:57
Keywords: Hong Kong,Asia,Emerging countries,Banks (industry group),Financials,Investment services,Fund management and asset allocation,Netherlands,Western Europe,Europe,United States of America,Management issues/policy,Banks,China,Company News item,Economic news, E
Quote: UPDATE 1-Citi hires ex-Tribridge partner to head Asia distressed
* John Liptak to head Citi's Asia-Pac distressed group * Was partner at Tribridge, set up Asian distressed fund(Adds more detail) HONG KONG, March 9 (Reuters) - Citigroup (C.N) has hired John
Liptak from Hong Kong-based hedge fund Tribridge Capital to head
its Asia Pacific distressed and special situations group, an
internal memo seen by Reuters showed. Liptak, who has been involved in Asian distressed investing
for 12 years, was ...
Read articleMOVES-Citigroup, Pacific Alliance, RBC Wealth Management
2010-03-09 07:27:56
Keywords: Management issues/policy,Banks (industry group),Financials,Fund management and asset allocation,United States of America,Banks,Australia,Asia,Real estate (industry),France,Western Europe,Europe,Financial services - diversified,Germany,Company News item,Ec
Quote: MOVES-Citigroup, Pacific Alliance, RBC Wealth Management
March 9 (Reuters) - The following financial services
industry appointments were announced on Tuesday. To inform us
of other job changes, send an email to
moves@thomsonreuters.com. CITIGROUP (C.N) Citigroup said it has hired John Liptak from Hong
Kong-based hedge fund Tribridge Capital to head its
Asia-Pacific distressed and special situations group, according
to an internal memo seen by Reuters. [ID:nTOE62804S] LIBERTY INTERNATIONAL UNDER...
Read articleCitigroup shares: No longer toxic?
2010-03-09 07:27:56
Keywords: citi, citigroup, investing, share price, TARP
Quote: Citigroup shares: No longer toxic?By Scott Cendrowski, reporterMarch 9, 2010: 4:31 AM ETNEW YORK (Fortune) -- Yes, Citigroup lost billions in the financial crisis. And yes, it's still swimming in toxic assets. But Bruce Berkowitz argues the worst is over.CFortune 500)shares.In an interview with Fortune, Berkowitz said Citi's balance sheet is slowly improving. He calculates that even its bad assets now return more than 5%."People are so focused on the liabilities," he says, "that t...
Read articleBank of America Scores Biggest Bounce
2010-03-09 07:27:55
Keywords: Financial, News, Stock, Market, Headlines, Investments, Quotes, Trading, TheStreet.com, Michael Baron ,Financial Services
Quote: Between dealing with the fallout of the CARD Act and heightened mortgage repurchase requests, there's certainly a chance that earnings could fall short of expectations.Citigroup(C), for example, is projected to break even for the period, which would be a strong improvement from its in-line loss of 33 cents a share in the fourth quarter. Goldman Sachs(GS) is currently expected to earn $4.23 a share for the March period, but Rochdale Securities analyst Richard Bove cut his 2010 estimates for the c...
Read article[$$] Clash Over 'Too Big to Fail'
2010-03-05 04:35:15
Quote: government guarantee to protect the largest financial firms, a Treasury Department official said, as a congressional watchdog criticized the $45 billion in government aid provided to Citigroup Inc. Herbert Allison, who oversees the Treasury's $700 billion financial-rescue plan, disagreed with members of a congressional oversight panel that some financial firms benefit from the assumption that the government would step in to prevent their failure. "There is no too-big-to-fail guarantee on the p...
Read articleFor the Euro's Laggards, Would a Devaluation Help?
2010-03-05 04:35:14
Quote: And the chief economist of Citigroup, Willem Buiter, has come up with a possible reason for the difference. It comes down to where you're from.
It is no coincidence, says Mr. Buiter, once a member of the Monetary Policy Committee of the Bank of England, that the euro-devaluationists are predominantly in the U.S.
He argues they are familiar with the U.S. economy, where foreign trade makes up a small proportion of economic output and where there are what he calls "long-lasting nominal rigidities"....
Read articleObama reasserts Volcker rule, U.S. Senate bill seen
2010-03-04 03:18:52
Quote: Lobbying groups for large banks sent a letter to lawmakers
on Wednesday saying that the Fed should retain its role as the
supervisor of large bank holding companies, such as Citigroup
(C.N) and Bank of America (BAC.N). Despite sharp criticism leveled at the U.S. central bank
over its failures as a bank supervisor before the crisis, the
approach backed by the lobbyists also will likely be included
in the Dodd bill, said lawmakers, aides and lobbyists. They said another component of the deal calls...
Read articleCitigroup's Pandit to Say 'Thanks'
2010-03-04 03:18:48
Keywords: Financial, News, Stock, Market, Headlines, Investments, Quotes, Trading, TheStreet.com, TheStreet Staff ,Banks
Quote: WASHINGTON (TheStreet) -- Citigroup(C Quote) CEO Vikram Pandit Thursday will find himself once again in front of a congressional panel overseeing the bailout of U.S. banks.Pandit is expected to tell the Congressional Oversight Panel that the company looks and is run very differently than when he arrived in 2007, the Wall Street Journal reports, citing people familiar with Pandit's planned remarks.Citigroup's CEO, in fact, will thank the U.S. government for providing $45 billion of bailout money...
Read articleThe Loneliest Voice in Washington Gets Company
2010-03-04 03:18:48
Quote: Vikram PanditCitigroup Inc. and Herb Allison, the Treasury official responsible for financial stability. She declined to say what she plans to ask Mr. Pandit specifically, but suggested he should be ready to show he's making progress at Citi -- unwinding risk, modifying loans and tackling compensation issues.
Mr. Pandit might also expect a question about lending. It's an issue all bailout recipients should be tackling, Ms. Warren said. It is one thing to deny someone without credit a loan, quite...
Read articleBig Bank Backlash
2010-03-04 03:18:48
Keywords: John Zogby, Big Business, Banks, Wall Street, Finance
Quote: Morgan, CitigroupCnewspeople) and the rest of the banking giants. As the past two years have shown, understanding the workings of America's banks may require an accounting Rosetta Stone. Also, as consumers well know, banks have ways to increase revenue from existing customers. The question is whether the Move Your Money campaign has picked up about all the support it's going to get, or whether it will keep growing. If the latter, the big banks will eventually feel some pain.Voter anger at big ba...
Read article[$$] Pandit Returns to Capitol's Hot Seat
2010-03-04 03:18:48
Quote: BY RANDALL SMITHCitigroup Inc. Chief Executive Vikram Pandit will be in an uncomfortably familiar position Thursday when he testifies to the congressional panel in charge of overseeing the U.S. government's rescue of battered financial firms. The New York company still has $25 billion in money from the U.S. Treasury, which owns a 27% stake that makes some lawmakers leery about taxpayer exposure to the financial giant. A spokesman for the panel said Mr. Pandit will be prodded about whether Citig...
Read articleUPDATE - Warburg Pincus may buy $230 mln Primerica stock
2010-03-03 02:14:27
Keywords: United States of America,U.S. corporate debt,Debt,Banking services,Financial services - diversified,Financial service providers,Private equity funds,Fund management and asset allocation,Management issues/policy,Regulation and enforcement,Banks (industry g
Quote: UPDATE 2-Warburg Pincus may buy $230 mln Primerica stock
* Warburg Pincus may buy $230 mln or more Primerica stock * Citigroup selling Primerica shares to public * Earlier effort to sell all of Primerica failed(Adds board representation, Primerica details, other Warburginvestments) NEW YORK, March 2 (Reuters) - The private equity firm
Warburg Pincus LLC plans to buy as much as $230 million of
common stock in Primerica Inc from Citigroup Inc (C.N) in
connection with the bank's planned initial pu...
Read article