Freeport-McMoRan has signed a definitive deal with Sumitomo in order to sell its 13% interest in Morenci for $1 billion cash. The company intends to utilize the transaction proceeds to repay its bank loans.
Sumitomo Mitsui Banking Corp (SMBC) will buy Citigroup Inc's (C.N) Japanese retail banking operations in October for about 40 billion yen ($330 million), people with knowledge of the matter said on Wednesday.
Sumitomo Mitsui Financial Group Inc (8316.T) will announce as soon as next week that it will buy Citigroup Inc's (C.N) Japanese consumer banking business, Bloomberg reported, citing people with knowledge of the matter.
Citigroup Inc (C.N) on Friday told bidders for its Japanese retail banking operations that it was looking to sell its profitable Diners Club card business in Japan with the retail unit, sources with knowledge of the matter said.
Citigroup Inc (C.N) is preparing to sell its Japanese retail banking operations, a source with direct knowledge of the matter said on Wednesday, as it waves the white flag on a venture plagued by regulatory troubles and anemic lending.
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