Citi to sell stake in Bellsystem24


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.

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