Citigroup completes sale of Japanese brokerage in $8.7 billion deal
Citigroup Inc. has completed the sale of its Japanese brokerage to Sumitomo Mitsui Banking Corp. in a $8.7 billion deal that advances the US bank's efforts to restructure after big losses on risky investments.
US banking major Citigroup will sell its Japanese trust banking unit to Mitsubishi UFJ Trust and Banking Corporation for about 25 billion yen.