Citibank to Manage All Tender and Exchange Services for Major Acquisition in Venezuela.Business Editors NEW YORK--(BUSINESS WIRE)--May 1, 2000 Citibank Agency and Trust, a division of Citigroup's Global Corporate and Investment Bank, today announced it will manage all tender and exchange services related to the recent offer to acquire Electricidad de Caracas by AES Corporation AES Corporation AES (NYSE) is a Fortune 1000 company that generates and distributes electrical power. It was founded on January 28, 1981 by Roger Sant from the US Federal Energy Administration and Dennis Bakke from the Office of Management and Budget. , the largest power plant developer in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The acquisition, valued at $863 million, is the largest in Venezuela's history. Citibank will manage the tender and exchange services for the common shares in Venezuela and the American Depositary Shares American Depositary Share (ADS) Foreign stock issued in the US and registered in the ADR system. (ADS) in the U.S. "Citibank is pleased to be a part of this transaction in Venezuela and the U.S.," said Jeffrey Volk, Managing Director, Citibank Agency and Trust. "Citibank's local expertise in securities transactions in every major market is invaluable to customers interested in facilitating cross-border mergers and acquisitions." Citibank Agency and Trust is the largest global provider of corporate trust, escrow and advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal . Headquartered in 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 and London, the division is responsible for over $1.5 trillion in fixed income, escrow, corporate finance, project finance, advisory and related transactions. More than 3,000 corporations routinely utilize Citibank's Agency and Trust services in 65 countries worldwide. Citibank Worldwide Securities Services (WWSS WWSS Worldwide Satellite Systems (US DoD contract vehicle) WWSS Warfare and Warfare Support System ) is a unit of Citigroup's Global Corporate and Investment Bank. WWSS serves global issuers, investors and intermediaries through the industry's largest proprietary network, spanning 50 countries. It currently provides securities services to more than 3,000 customers worldwide and has $3.9 trillion in assets under custody. WWSS is the industry's premier custodian of cross-border assets, top ranked global clearer and recognized leader in depositary receipt depositary receipt A negotiable certificate that represents a company's publicly traded debt or equity. Depositary receipts are created when a company's shares or bonds are delivered to a depositary's custodian bank, which instructs the depositary to issue services, and agency and trust services. The local presence of WWSS, supported globally -more- by Regional Service Centers, ensures clients of consistent transaction processing worldwide, proprietary control of clearing cycles and reduced risk in all cross-border securities transactions. Citigroup (NYSE NYSE See: New York Stock Exchange :C), the most global financial services company, provides some 100 million consumers, corporations, governments and institutions in 101 countries with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage and asset management. The 1998 merger of Citicorp and Travelers Group brought together such brand names as Citibank, Travelers, Salomon Smith Barney, Commercial Credit and Primerica under Citigroup's trademark red umbrella. Additional information can be found at: http://www.citi.com. |
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