Citigroup 's Private Equity Sale, Shares Unchanged

Citigroup Inc. (NYSE:C) plans to sell or split off its $10 billion Citi Private Equity unit, expanding the list of money-management businesses the U.S. bank is disposing of to reduce debt, people familiar with the matter said.

Citigroup (C) shares are unchanged on the news today, trading up 2 Cents at $3.34.  Over the past 52-week Citi shares have bounced from 97 cents to $5.43.  Thus far in 2010 Citigroup Inc. shares are down slightly just .7%.

Citigroup Inc. (Citigroup) is a global diversified financial services holding company. The Company is engaged in providing a range of financial services to consumers and corporate customers. As of May 4, 2009, Citigroup had more than 200 million customer accounts and did business in more than 140 countries. Through its two operating units, Citicorp and Citi Holdings, Citigroup provides consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management

SOURCE: Bloomberg.com