Citigroup Inc

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Earnings Announcements, Mergers / Acquisitions

UOB Group To Buy Citigroup’s Consumer Business In Indonesia, Malaysia, Thailand & Vietnam

Published: 01/14/2022 00:46 GMT
Citigroup Inc (C) - Uob Group to Acquire Citigroup's Consumer Business in Indonesia, Malaysia, Thailand and Vietnam.
Excluding One-off Transaction Costs, Proposed Acquisition is Expected to Be Immediately Accretive to Uob's Earnings.
As Part of Proposed Acquisition, Uob Intends to Bring Onboard Employees in Consumer Business.
Total Cash Consideration for Proposed Acquisition on an Aggregate Premium Equivalent to S$915 Million.
Estimated That Completion of Deal Will Take Place Between Mid-2022 and Early 2024.
Acquisition to Reduce Uob's Cet1 Ratio by 70 Basis Points to 12.8%, Based on Its Capital Position As at 30 Sept 2021.
Effect to Cet1 Ratio is Not Expected to Be Material and Will Be Well Within Regulatory Requirements.
Revenue is expected to be $18.26 Billion
Adjusted EPS is expected to be $2.09

Next Quarter Revenue Guidance is expected to be $17.79 Billion
Next Quarter EPS Guidance is expected to be $1.94

More details on our Analysts Page.