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New Deal


Announced

United Overseas Bank to acquire Southeast Asian consumer business of Citigroup for $3.7bn.

Financials

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Transaction Value£2,699m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Banks

Acquisition

consumer banking

Domestic

Majority

Private

Pending

Friendly

Single Bidder

Malaysia

Indonesia

Thailand

Vietnam

Synopsis

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United Overseas Bank, a Singaporean multinational banking organisation, agreed to acquire Southeast Asian consumer business of Citigroup, an American multinational investment bank and financial services corporation, for $3.7bn. "From the integration standpoint, acquiring from a single, reputable seller with a uniform franchise will reduce complexity. One bank, one platform, one model," Wee Ee Cheong, United Overseas Bank deputy Chairman and CEO.

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