A Citibank office in New York A Citibank office in New York (AP photo) Banks including DBS Group, Mitsubishi UFJ Financial Group (MUFG), OCBC, and Standard Chartered are set to bid for parts of Citigroup s consumer business in Asia, people with direct knowledge of the matter said. The sale process will start within a couple of weeks, they added, declining to be named as they were not authorized to speak to media. The move comes after Citi said it would exit from its consumer franchises in 13 markets, 10 of which are in Asia, as it refocuses on its more lucrative institutional and wealth management businesses in these markets.
The Straits Times
DBS, OCBC among potential bidders for Citi s Asia consumer business: Sources
DBS and OCBC are among the banks set to bid for parts of Citigroup s consumer business in Asia.PHOTOS: ST FILE
PublishedApr 20, 2021, 3:59 pm SGT
https://str.sg/Jyt8
They can read the article in full after signing up for a free account.
Share link:
Or share via:
Sign up or log in to read this article in full
Sign up
All done! This article is now fully available for you
Read now
Get unlimited access to all stories at $0.99/month for the first 3 months.
Get unlimited access to all stories at $0.99/month for the first 3 months.
By Syndicated Content
By Scott Murdoch and Kane Wu
HONG KONG (Reuters) - Bain Capital is looking at formulating a bid to acquire Toshiba Corp, two people familiar with the matter said.
The Japanese conglomerate on Tuesday dismissed a $20 billion buyout offer from CVC Capital Partners as lacking substance but said it would consider any credible offers.
CVC had initially approached Bain about a joint bid before its offer was made public but Bain was not interested, one of the people said.
Bain has entered into discussions with Japanese banks including the core units of Mizuho Financial Group Inc and Sumitomo Mitsui Financial Group to secure funding, the person said.
Publishing date: Apr 21, 2021 • 1 hour ago • 2 minute read •
Article content
HONG KONG Bain Capital is looking at formulating a bid to acquire Toshiba Corp, two people familiar with the matter said.
The Japanese conglomerate on Tuesday dismissed a $20 billion buyout offer from CVC Capital Partners as lacking substance but said it would consider any credible offers.
We apologize, but this video has failed to load.
Try refreshing your browser, or Bain Capital weighing bid to take Toshiba private -sources Back to video
CVC had initially approached Bain about a joint bid before its offer was made public but Bain was not interested, one of the people said.
Bain Capital said to weigh bid to take Toshiba private
PHOTO: REUTERS/Yuriko Nakao/File Photo
April 21, 2021
Bain Capital is looking at formulating a bid to acquire Toshiba Corp, two people familiar with the matter said.
The Japanese conglomerate on Tuesday dismissed a $20 billion buyout offer from CVC Capital Partners as lacking substance but said it would consider any credible offers.
CVC had initially approached Bain about a joint bid before its offer was made public but Bain was not interested, one of the people said.
Bain has entered into discussions with Japanese banks including the core units of Mizuho Financial Group Inc and Sumitomo Mitsui Financial Group to secure funding, the person said.