KIA Sells Stake in Citigroup for $1.1 Billion Profit
Posted on 12/07/2009
Kuwait Investment Authority (KIA) made a profit of US$ 1.1 billion after selling its 5% stake in Citigroup for US$ 4.1 billion less than two years after acquiring preference shares in the largest US bank during the global financial crisis. KIA converted preferred stock in Citigroup that it purchased for $3 billion in 2008 into […]
