Citigroup Agrees to Sell A.F.P. Habitat Stake

January 22, 2010

Citigroup announced an agreement with Invesco and Impresa to sell Citigroup’s 40.23% stake in Chilean pension fund administrator A.F.P. Habitat.

Citigroup on January 22, 2010 announded an agreement with Sociedad de Inversiones y Servicios la Construccion, S.A. (Invesco) and Inversiones Provisionales S.A. (Impresa) to sell Citigroup’s 40.23% indirect ownership stake in Administradora de Fondos de Pensiones Habitat S.A. (A.F.P. Habitat) in a public tender offer to be conducted by an affiliate of Invesco for all of the outstanding shares of A.F.P. Habitat.  Citigroup’s expected total gross proceeds from the sale are approximately $300 million.  A.F.P. Habitat is the second largest pension fund administrator in Chili, with U.S. $29 billion of assets under management.

For more information, read the press release here.


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Investment Manager M&A, Transactions