M&A Deal Summary

Citi Acquires Quilter Holdings

On March 1, 2007, Citi acquired financial services company Quilter Holdings from Morgan Stanley for 5.8B GBP

Acquisition Highlights
  • This is Citi’s 10th transaction in the Financial Services sector.
  • This is Citi’s 3rd largest (disclosed) transaction.
  • This is Citi’s 2nd transaction in the United Kingdom.

M&A Deal Summary
Date 2007-03-01
Target Quilter Holdings
Sector Financial Services
Buyer(s) Citi
Sellers(s) Morgan Stanley
Deal Type Divestiture
Deal Value 5.8B GBP

Target

Quilter Holdings

London, United Kingdom
Quilter Holdings Ltd. operates as an investment management company providing account management, stock broking and advisory services to private individuals, pension funds and trusts. Company business model focuses on discretionary, fee-based wealth advisory services and complements.

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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 11 of 16
Sector (Financial Services) 10 of 13
Type (Divestiture) 1 of 2
Country (United Kingdom) 2 of 2
Year (2007) 3 of 7
Size (of disclosed) 3 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-01 Ecount

Conshohocken, Pennsylvania, United States

Ecount, Inc. provides customized prepaid programs for corporations looking for a simple, convenient and cost effective way to deliver payments.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-05 Grupo Financiero Uno S.A.

Guatemala City, Guatemala

Grupo Financiero Uno S.A., a commercial bank, provides various financial services.

Buy -

Seller(S) 1

SELLER

Morgan Stanley

New York, New York, United States
Category Company
Founded 1924
Sector Financial Services
Employees80,000
Revenue 50.7B USD (2023)
DESCRIPTION
Morgan Stanley office in Tempe, Arizona.
Morgan Stanley office in Tempe, Arizona.

Morgan Stanley is a global financial services firm that provides its products and services to a large and diversified group of clients and customers, including corporations, governments, financial institutions and individuals. Morgan Stanley's business segments include institutional securities, wealth management, and investment management. Morgan Stanley was formed in 1924 and is based in New York City.

DEAL STATS #
Overall 1 of 9
Sector (Financial Services) 1 of 6
Type (Divestiture) 1 of 7
Country (United Kingdom) 1 of 2
Year (2007) 1 of 3
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1996-07-01 Van Kampen Investments

Oakbrook Terrace, Illinois, United States

Van Kampen is one of the nation’s largest investment management companies, offering a broad array of open-end and closed-end mutual funds, unit investment trusts, retirement products and investment platforms. T

Buy $745M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-30 Discover

Riverwoods, Illinois, United States

Discover is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. The Company issues the Discover card and offers home loans, private student loans, personal loans, home equity loans, checking and savings accounts, certificates of deposit and money market accounts through its direct banking business. Discover was founded in 1960 and is incorporated in Riverwoods, Illinois.

Sell -
Mergr

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