M&A Deal Summary

Confédération Nationale du Crédit Mutuel Acquires Citibank Privatkunden AG KGaA

On July 11, 2008, Confédération Nationale du Crédit Mutuel acquired financial services company Citibank Privatkunden AG KGaA from Citi for 4.9B EUR

Acquisition Highlights
  • This is Confédération Nationale du Crédit Mutuel’s 1st transaction in the Financial Services sector.
  • This is Confédération Nationale du Crédit Mutuel’s largest (disclosed) transaction.
  • This is Confédération Nationale du Crédit Mutuel’s 1st transaction in Germany.

M&A Deal Summary
Date 2008-07-11
Target Citibank Privatkunden AG KGaA
Sector Financial Services
Buyer(s) Confédération Nationale du Crédit Mutuel
Sellers(s) Citi
Deal Type Divestiture
Deal Value 4.9B EUR

Target

Citibank Privatkunden AG KGaA

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

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Buyer(S) 1

Buyer

Confédération Nationale du Crédit Mutuel

Paris,, France
Category Company
Sector Financial Services
DESCRIPTION

Confédération Nationale du Crédit Mutuel, is a provider of various banking products and services in France and internationally.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
Country (Germany) 1 of 1
Year (2008) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

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 6 of 19
Sector (Financial Services) 5 of 12
Type (Divestiture) 6 of 16
Country (Germany) 1 of 1
Year (2008) 3 of 5
Size (of disclosed) 2 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-05-02 CitiStreet

North Quincy, Massachusetts, United States

CitiStreet LLC is a provider of record keeping and administrative services, counseling and advice programs, and other benefit plan services primarily in the US. It has approximately 3,700 employees with the majority located in the US.

Buy $900M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-08 Citigroup Global Services

Mumbai, India

Citigroup Global Services, is the global processing centre for all Citi entities. The company provides product driven processing, call centre (inbound & outbound) and technology services to CGSL entities across 50 countries on a 24x7 basis. CGSL operates in the BPO, KPO and LPO service lines.

Sell $505M
Mergr

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