News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Citigroup beats rivals to Guangdong

A Citigroup-led consortium has beaten two rival investor groups with a $3.2bn (€2.7bn) bid for a stake in China's Guangdong Development Bank.

The Citigroup consortium beat groups led by ABN Amro and Société Générale for an 85% stake in the bank, Reuters reports, citing three unnamed sources close to the deal.

WSJ Logo