Report: Government, Citi near deal (Dealscape

Government officials are close to an agreement with Citigroup Inc. that would give the U.S. an equity stake of up to 40% in return for new capital, the Financial Times reported Wednesday.

The deal would have the government convert at least part of the $45 billion of preference shares it holds in the bank. Other preference shareholders, with more than $30 billion of securities, would likely follow suit, the Financial Times said, while CEO Vikram Pandit may offer ordinary shares to other investors to bolster capital.

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NOT A SUBSCRIBER? Report: Government, Citi near deal Posted on February 25, 2009 2:48 PM Government officials are close to an agreement with Citigroup Inc. that would give the U.S. an equity stake of up to 40% in return for new capital, the Financial Times reported Wednesday. The deal would have the government convert at least part of the $45 billion of preference shares it holds in the bank. Other preference shareholders, with more than $30 billion of securities, would likely follow suit, the Financial Times said, while CEO Vikram Pandit may offer ordinary shares to other investors to bolster capital. This is a free preview of the content available in The Deal Pipeline. Subscribers enjoy access to the full story, as well as second-to-none research tools. To request a demo, or, if you are an existing user to The Deal Pipeline, log in to your account, please scroll down and click the button. Dig deeper, with Pipeline. 4,763 articles related to Citigroup Inc. 1,169 in-depth reports on Private Equity deals in the Financial Services sector 123 articles related to the TARP 50 company pages related to Citigroup 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Idearc Inc. Skadden Arps Deutsche Bank Concho Resources Windstream Corp. Cantor Fitzgerald Pinnacle Foods Lazard Diedrich Coffee MBIA Inc.		EXISTING USERS Username Password Forget your password? Missing a product?

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