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Singapore’s UOB to buy Citigroup consumer businesses in four Asian countries -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – A man walks past a UOB branch in Singapore on November 4, 2020. REUTERS/Edgar Su

(Reuters) – Singapore’s bank United Overseas Bank Ltd (OTC) Ltd announced Friday it will buy Citigroup (NYSE: ) The following consumer businesses are located in Indonesia, Malaysian, Thailand, and Vietnam.

UOB stated that the cash consideration will be determined based on an aggregate premium of S$915million ($679.89m) plus the consumer business’s net asset value at the time of completion.

($1 = 1.3458 Singapore dollars)

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