Citi to Acquire Intra S. A. Corretora de Câmbio e Valores

19.06.08 - 18:41 ... source : Citigroup

... Purchase of Independent Brokerage Will Expand Services Offered to Individuals in Brazil São Paulo – Citi today announced it has agreed to acquire Intra S. A. Corretora de Câmbio e Valores, a top 10 independent brokerage firm in Brazil. The purchase will expand Citi's capabilities in Brazil by adding a leading retail brokerage to the company's consumer banking and institutional equities business in the country. This transaction is subject to approval by regulators in Brazil and the U.S. Financial terms of the transaction were not disclosed. The acquisition of Intra positions Citi as a leading personal financial services provider in Brazil and is consistent with the company's strategy to invest and expand in core emerging markets. The addition of Intra's staff, customers and technology will contribute to the development and growth of Citi's consumer and institutional equities business in the country. ...» Next (HTML)