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  5. Citi Acquires Grupo Financiero Cuscatlan de Costa Rica S.A.

M&A Deal Summary

Citi Acquires Grupo Financiero Cuscatlan de Costa Rica S.A.

On May 14, 2007, Citi acquired financial services company Grupo Financiero Cuscatlan de Costa Rica S.A. from Corporacion UBC Internacional S.A. for 1.5B USD

Acquisition Highlights
  • This is Citi’s 12th transaction in the Financial Services sector.
  • This is Citi’s 6th largest (disclosed) transaction.
  • This is Citi’s 1st transaction in Costa Rica.

M&A Deal Summary
Date 2007-05-14
Target Grupo Financiero Cuscatlan de Costa Rica S.A.
Sector Financial Services
Buyer(s) Citi
Sellers(s) Corporacion UBC Internacional S.A.
Deal Type Divestiture
Deal Value 1.5B USD

Target

Grupo Financiero Cuscatlan de Costa Rica S.A.

San Jose, Costa Rica
Grupo Financiero Cuscatlan de Costa, is one of the major financial groups in Central America with operations in El Salvador, Guatemala, Costa Rica, Honduras and Panama. It serves more than 45,000 corporate banking customers and 1.2 million consumer banking customers through a distribution network of 202 branches and 263 ATM’s throughout the region.

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Buyer(S) 1

Buyer

Citi

New York, New York, United States
Category Company
Founded 1812
Sector Financial Services
Employees226,710
Revenue 81.1B USD (2024)
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 14 of 16
Sector: Financial Services M&A 12 of 13
Type: Divestiture M&A Deals 2 of 2
Country: Costa Rica M&A 1 of 1
Year: 2007 M&A 6 of 7
Size (of disclosed) 6 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-03 The BISYS Group

New York, New York, United States

The BISYS Group, Inc. provides outsourcing solutions that help investment firms and insurance companies to more efficiently serve their customers, grow their businesses, and respond to evolving regulatory requirements.

Buy $1.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-02 Automated Trading Desk

Mount Pleasant, South Carolina, United States

Automated Trading Desk is a brokerage firm specializing in automated trading and customized equity execution solutions. Automated Trading Desk has about 120 broker-dealer customers and trades, on average, more than 200 million shares daily, or 6 percent of the volume on both the New York Stock Exchange and Nasdaq.

Buy $680M

Seller(S) 1

SELLER

Corporacion UBC Internacional S.A.

Panama City, Panama
Category Company
Founded 2001
Sector Financial Services
DESCRIPTION

Corporacion UBC Internacional, S.A. offers banking products and services and company operates as a bank holding company for Banco Cuscatlan Panabank.

DEAL STATS #
Overall 1 of 1
Sector: Financial Services M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
Country: Costa Rica M&A 1 of 1
Year: 2007 M&A 1 of 1
Size (of disclosed) 1 of 1
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