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New Deal


Announced

Banco Nacional de Crédito to acquire Citigroup's Venezuelan operations.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Acquisition

Friendly

banking

Single Bidder

Venezuela

Pending

Domestic

Majority

Banks

Private

Synopsis

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Banco Nacional de Crédito, a Venezuelan commercial bank, agreed to acquire the Venezuelan operations of Citigroup. Financial terms were not disclosed. “BNC is committed to supporting Citi’s clients in Venezuela who will continue receiving high-quality financial services while benefiting from the advantages of an expanding local bank with a skilled professional team and a modern technological platform,” Jorge Nogueroles, BNC President and CEO.

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