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Aboitiz-Backed UnionBank To Buy Citigroup’s Philippine Consumer Banking Business For $904 Million

Aboitiz-Backed UnionBank To Buy Citigroup's Philippine Consumer Banking Business For $904 Million

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UnionBank of the Philippines—which counts the Aboitiz family, one of the country’s richest clans, as its biggest shareholder—has agreed to acquire Citigroup’s consumer banking business in the Southeast Asia nation for a cash consideration plus premium of 45.3 billion pesos ($904 million).

...read full article on Forbes

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