M&A Deal Summary

Citi Acquires European American Bank

On June 30, 2001, Citi acquired financial services company European American Bank for 1.9B USD

Acquisition Highlights
  • This is Citi’s 5th transaction in the Financial Services sector.
  • This is Citi’s 5th largest (disclosed) transaction.
  • This is Citi’s 4th transaction in the United States.
  • This is Citi’s 1st transaction in New York.

M&A Deal Summary

Date 2001-06-30
Target European American Bank
Sector Financial Services
Buyer(s) Citi
Deal Type Add-on Acquisition
Deal Value 1.9B USD

Target

European American Bank

Uniondale, New York, United States
European American Bank provides commercial and retail banking services in the New York.

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Buyer(S) 1

Buyer

Citi

New York, New York, United States

Category Company
Founded 1812
Sector Financial Services
Employees237,000
Revenue 78.5B USD (2023)
DESCRIPTION

Citi is a global diversified financial services holding company, whose businesses provide consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management. Citi was incorporated in 1812 and is based in New York City.


DEAL STATS #
Overall 5 of 16
Sector (Financial Services) 5 of 13
Type (Add-on Acquisition) 4 of 11
State (New York) 1 of 2
Country (United States) 4 of 9
Year (2001) 2 of 2
Size (of disclosed) 5 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-05-17 Grupo Financiero Banamex

Mexico City, Mexico

Grupo Financiero Banamex is a Mexican financial services company.

Buy $12.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-05-22 Golden State Bancorp

Glendale, California, United States

Golden State Bancorp Inc. is a full-service, community-oriented savings bank and diversified financial services company.

Buy $16M