Citigroup Slims Down: Sells CitiStreet To ING

May 2008 | M&A News Alert

Citigroup and State Street Corp have agreed to sell their joint venture CitiStreet to Dutch Bank ING for US$900mn. CitiStreet, based in Quincy, Massachusetts, is a benefits recordkeeping and administration services company with more than US$262bn assets under administration as of March 31. It was formed in 2000 and employs around 3,700 people. The deal is expected to close in the third

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