07 Dec

BBC News – Citigroup stake sale creates $12bn profit for US

The US Treasury has sold its remaining stake in Citigroup, in a deal which it says will make a $12bn (£7.6bn) profit on its overall investment.

Citigroup was one of the worst victims of the financial crisis, and the US government stepped in with $45bn of bail-out cash in 2008 and 2009.

The money was part of the $700bn Troubled Asset Relief Program (Tarp).

via BBC News – Citigroup stake sale creates $12bn profit for US. That’s a nice chunk of change.

Leave a Reply

Your email address will not be published. Required fields are marked *