M&A Deal Summary

United Overseas Bank Acquires Citi - Consumer Bank in Indonesia Malaysia Thailand and Vietnam

On January 13, 2022, United Overseas Bank acquired financial services company Citi - Consumer Bank in Indonesia Malaysia Thailand and Vietnam from Citi for 690M USD

Acquisition Highlights
  • This is United Overseas Bank’s 1st transaction in the Financial Services sector.
  • This is United Overseas Bank’s largest (disclosed) transaction.
  • This is United Overseas Bank’s 1st transaction in Indonesia.

M&A Deal Summary
Date 2022-01-13
Target Citi - Consumer Bank in Indonesia Malaysia Thailand and Vietnam
Sector Financial Services
Buyer(s) United Overseas Bank
Sellers(s) Citi
Deal Type Divestiture
Deal Value 690M USD

Target

Citi - Consumer Bank in Indonesia Malaysia Thailand and Vietnam

Indonesia
Citi’s consumer banking franchises in Indonesia, Malaysia, Thailand and Vietnam includes retail banking and credit card businesses.

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Buyer(S) 1

Buyer

United Overseas Bank

Singapore, Singapore
Category Company
Founded 1935
Sector Financial Services
Revenue 13.9B SGD (2023)
DESCRIPTION

United Overseas Bank is a multinational banking company offering financial solutions to the people and businesses within, and connecting with ASEAN. United Overseas Bank was formed in 1935 and is based in Singapore.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
Country (Indonesia) 1 of 1
Year (2022) 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 19 of 19
Sector (Financial Services) 12 of 12
Type (Divestiture) 16 of 16
Country (Indonesia) 1 of 1
Year (2022) 1 of 1
Size (of disclosed) 5 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-17 Fairstone Financial

Montreal, Ontario, Canada

Fairstone Financial, Inc. is a non-bank provider of responsible lending solutions for near-prime borrowers with over C$3 billion in assets on a consolidated basis. Fairstone, including through its predecessors, has close to a 100-year history of providing Canadians with access to responsible credit.

Sell -
Mergr

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