Citigroup sells Redecard stake (Dealscape

Still working to bolster its balance sheet, Citigroup Inc. has raised 2.21 billion reais ($984.8 million) by selling a 13.4% stake in the Brazilian credit card processor Redecard SA, the South American company said in a Tuesday securities filing.

Citigroup, the third-largest U.S. bank, sold 90.32 million shares priced at R$24.50 each, Reuters quoted Redecard as saying. The sale leaves the New York bank with a stake of less than 4% in the Brazilian company. It had owned a 17% stake of Redecard, which processes MasterCard and Diners Club transactions.

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NOT A SUBSCRIBER? Citigroup sells Redecard stake Posted on March 25, 2009 1:15 PM Still working to bolster its balance sheet, Citigroup Inc. has raised 2.21 billion reais ($984.8 million) by selling a 13.4% stake in the Brazilian credit card processor Redecard SA, the South American company said in a Tuesday securities filing. Citigroup, the third-largest U.S. bank, sold 90.32 million shares priced at R$24.50 each, Reuters quoted Redecard as saying. The sale leaves the New York bank with a stake of less than 4% in the Brazilian company. It had owned a 17% stake of Redecard, which processes MasterCard and Diners Club transactions. 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. 4,832 articles related to Citigroup Inc. 868 in-depth reports of M&A deals in the Financial Services sector 62 company pages related to Citigroup 39 articles related to Banco Itau Holding Financeira SA 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Skadden Arps Idearc Inc. Deutsche Bank Amusement parks Deb Shops Windstream Corp. Concho Resources Hanna Andersson Tween Brands Edward Bastian		EXISTING USERS Username Password Forget your password? Missing a product?

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