John Lounsbury, Managing Editor and Co-founder of Global Economic Intersection, provides comprehensive financial planning and investment advisory services to a small number of families on a fee only basis. He has a background which includes 34 years with a major international corporation, 25... More
Private equity firm Apollo Management will purchase Citigroup's (C) property investment group. According the a Financial Times article by Henny Sender and Justin Baer, the gross assets of the portfolio are about $12.5 billion, down from $13.5 billion in 2008. No mention of the value of the deal appears in the article.
Citigroup continues to shed assets in an attempt to shore up its balance sheet and offset operating losses with have amounted to more than $20 billion over the past two years or so, before asset sales.
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Citi Dismemberment Continues 0 comments
Citigroup continues to shed assets in an attempt to shore up its balance sheet and offset operating losses with have amounted to more than $20 billion over the past two years or so, before asset sales.
Disclosure: No positions.
Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.
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