Citibank Completes Confia Acquisition.NEW YORK--(BUSINESS WIRE)--May 11, 1998--Citibank today completed its acquisition of Confia, S.A., a consumer and corporate bank based in Monterrey Monterrey (mōntārā`), city (1990 pop. 1,068,996), capital of Nuevo León state, NE Mexico, the third largest city of Mexico. Located c.150 mi (240 km) S of Laredo, Tex. , Mexico Mexico, city, Mexico Mexico or Mexico City, Span. Ciudad de México (Méjico), city (1990 pop. 8,236,960; 1991 met. area est. 20,899,000), central Mexico, capital and largest city of Mexico. . Initially announced last August, the acquisition is part of Citibank's strategy to expand its consumer and corporate banking presence in emerging markets worldwide. The acquisition gives Citibank CITIBANK First National City Bank and Confia together 200 full-service branches, located primarily in Mexico City Mexico City Spanish Ciudad de México City (pop., 2000: city, 8,605,239; 2003 metro. area est., 18,660,000), capital of Mexico. Located at an elevation of 7,350 ft (2,240 m), it is officially coterminous with the Federal District, which occupies 571 sq mi , Monterrey and Guadalajara. Julio A. de Quesada de Quesada is a Spanish surname. Individuals with this surname include:
As previously announced, the purchase price was a $45 million premium and $150 million in additional capital. CONTACT: Media: Jack Morris, 212/559-4285 or Investor: Frederick A. Roesch, 212/559-2715 |
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