CitiCapital to Sell Vendor Finance Business in Western Europe to CIT.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of & LONDON -- - CitiCapital, a business unit of Citigroup (NYSE NYSE See: New York Stock Exchange : C), has reached agreement to sell its vendor finance leasing business in Western Europe Western Europe The countries of western Europe, especially those that are allied with the United States and Canada in the North Atlantic Treaty Organization (established 1949 and usually known as NATO). to CIT n. 1. A citizen; an inhabitant of a city; a pert townsman; - used contemptuously. Which past endurance sting the tender cit. - Emerson. . The sale is subject to the customary regulatory approvals. Terms of the transaction are not being disclosed. "This divestiture is consistent with our desire to focus on core businesses where we possess a significant market presence," said Ellen Alemany, EVP EVP Executive Vice President EVP EGR (Exhaust Gas Recirculation) Valve Position Sensor EVP Electronic Voice Phenomenon EVP Europäische Volkspartei (Germany) EVP Employee Value Proposition Commercial Business Group and President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , CitiCapital. The Western European vendor finance leasing business has assets of approximately $950 million and 200 employees in the UK, France, Spain, Germany, and Italy, all of whom are expected to be transferred to CIT. No CitiCapital business outside of Western Europe will be affected by the sale. About CitiCapital With a current global portfolio of over $20 billion, CitiCapital, a business unit of Citigroup, is one of the largest commercial finance companies, and the leading independent provider of material handling equipment financing in the USA. CitiCapital provides a full range of financing solutions and services to over 575,000 customers throughout the world and is also a market leader in construction equipment, transportation, healthcare and business technology equipment finance. Additional information can be found at www.citicapital.com. About Citigroup Citigroup (NYSE: C), the preeminent global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company which has 200 million customer accounts and does business in more than 100 countries, provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Travelers Life and Annuity. Additional information may be found at www.citigroup.com. |
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