Nov 5th, 2009 - CNNMoney
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Citigroup Inc. (C) announced plans to have an initial public offering of itsPrimerica Inc. life-insurance unit as the financial giant looks to continueseparating its noncore businesses.
"Today's announcement represents an important step in simplifying ourorganization and demonstrates our continued success in finding solutions forCiti Holdings, our non-core businesses," Citi Holdings Chief Executive MichaelCorbat said. "We believe this is the best separation alternative for thisfranchise."
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UPDATE 3-Citi to raise up to $100 mln in Primerica IPO
Nov 5th, 2009 - Reuters
* Citigroup will keep most insurance risk * Primerica shares will be used as incentive for sales staff (Adds byline; Primerica's book value, history) NEW YORK, Nov 5 (Reuters) - Citigroup Inc (C.
Citigroup to Sell Shares in Primerica Financial in Public Sale
Nov 5th, 2009 - Bloomberg
Nov. 5 (Bloomberg) -- Citigroup Inc. plans to sell sharesof Primerica Financial Services, one of the bank’s originalbusinesses, through an initial public offering.
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