M&A Deal Summary

Citibank Privatkunden AG & Co. KGaA Acquires Bank Handlowy

On December 1, 2000, Citibank Privatkunden AG & Co. KGaA acquired financial services company Bank Handlowy from Corsair Capital

Acquisition Highlights
  • This is Citibank Privatkunden AG & Co. KGaA’s 1st transaction in the Financial Services sector.
  • This is Citibank Privatkunden AG & Co. KGaA’s 1st transaction in Poland.

M&A Deal Summary

Date 2000-12-01
Target Bank Handlowy
Sector Financial Services
Buyer(s) Citibank Privatkunden AG & Co. KGaA
Sellers(s) Corsair Capital
Deal Type Add-on Acquisition

Target

Bank Handlowy

Warsaw, Poland
Bank Handlowy is a provider of banking services in Poland and internationally.

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Buyer(S) 1

Buyer

Citibank Privatkunden AG & Co. KGaA

Dusseldorf,, Germany

Category Company
Sector Financial Services
DESCRIPTION

Citibank Privatkunden AG & Co. KGaA, provides personal and business banking services to corporations, government agencies, financial institutions, and individual consumers in Germany.


DEAL STATS #
Overall 1 of 1
Sector: Financial Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
Country: Poland M&A 1 of 1
Year: 2000 M&A 1 of 1

Seller(S) 1

SELLER

Corsair Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 9.9B USD
Size Mega
Type Sector Focused
DESCRIPTION

Corsair Capital is a private investment firm focused on investments in the financial services industry. Specific areas of interest include banks, insurance companies, credit card specialists, asset managers, private banks, mortgage lenders, financial technology firms, and finance companies. The Firm looks to invest between $50 to $100 million in companies with proven business models and 'meaningful' barriers to entry. Corsair will consider opportunities around the world, including the US, Europe, Latin America, and Asia. Prospective transactions include recapitalizations, growth capital financings, management buyouts, and special/distressed situations. Corsair Capital was originally established in 1992 and is based in New York City. Corsair has an additional office in London.


DEAL STATS #
Overall 2 of 14
Sector: Financial Services M&A 2 of 7
Type: Add-on Acquisition M&A Deals 1 of 6
Country: Poland M&A 1 of 2
Year: 2000 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-06-01 KorAm Bank

Seoul, South Korea

KorAm Bank was the seventh largest national commercial bank in Korea with approximately 226 branch locations and 4,250 full and part-time employees.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-07-04 Catlin Group

Hamilton, Bermuda

Catlin Group Ltd. is a specialty insurance and reinsurance provider . Areas of expertise include Marine, Professional Indemnity, Aviation, Energy, and Industrial. Catlin's property catastrophe reinsurance and marine businesses are viewed as 'Best in Class' at Lloyd's.

Buy $532M