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[JUST IN] UOB to acquire Citi's consumer business in Indonesia, Malaysia, Thailand and Vietnam
For the proposed acquisition, UOB will pay a cash consideration of S$915 million plus the net asset value of Citi’s consumer business as at the date of completion.
Citi's consumer business in the four countries has an aggregate net asset value of around S$4 billion and customer base of around 2.4 million as at Jun 30, 2021.