Citi has reached an agreement to tender its 93.5 per cent stake in Bellsystem24 to an acquisition corporation of Bain Capital Partners.
Citi would receive a cash consideration of 93.5 billion yen (USD 1 billion) for its 93.5 per cent stake in Bellsystem24, it said in a press release.
Citigroup owned Bellsystem24 through Citigroup Capital Partners Japan Ltd.
The sale of Bellsystem24, was a part of it’s global effort to raise further capital.
(Published 15 November 2009, 18:30 IST)
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