Printer Friendly Page|
FOR IMMEDIATE RELEASE August 6, 2001 Citigroup Successfully Completes Acquisition of Grupo Financiero Banamex-Accival New York, New York and Mexico City, Mexico — Citigroup announced today that its subsidiary, Citicorp, completed the final steps of its acquisition of approximately 4.7 billion Grupo Financiero Banamex-Accival (“Banacci”) ordinary shares (representing 99.86% of all of the issued and outstanding Banacci ordinary shares) for approximately $12.48 billion in cash and Citigroup stock (valued at the May 11, 2001 closing price of Citigroup stock of $49.26 per share) by settling transactions that were conducted on the Mexican Stock Exchange on Friday, August 3, 2001. As announced on Friday, those transactions comprised both the acquisition of Banacci shares tendered in response to Citicorp’s offer to acquire up to 100% of Banacci’s outstanding shares and the sale of Citigroup shares to the tendering Banacci shareholders. # # #
Citigroup (NYSE:C), the preeminent global financial services company, provides some 120 million consumers, corporations, governments and institutions in more than 100 countries with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage and asset management. Major brand names under Citigroup’s trademark umbrella are Citibank, CitiFinancial, Primerica, Salomon Smith Barney, and Travelers. Additional information may be found at: www.citigroup.com. |