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Citi To Put Nikko Businesses on Market – Report
Citi intends to sell its Japanese investment banking unit Nikko Citigroup, as well as Nikko Asset Management and retail brokerage arm Nikko Cordial Securities, according to Kyodo News.
The total value of the three businesses is estimated at Y800 billion (just over $8 billion), the report said, citing unnamed sources.
The report also said Citigroup had thought about keeping Nikko Citigroup and selling the two other units, but later decided to sell all three.
