General Announcement::DBS to acquire Citigroup's consumer banking business in Taiwan

Issuer & Securities

Issuer/ Manager
DBS GROUP HOLDINGS LTD
Securities
DBS GROUP HOLDINGS LTD - SG1L01001701 - D05
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
28-Jan-2022 07:50:46
Status
New
Announcement Sub Title
DBS to acquire Citigroup's consumer banking business in Taiwan
Announcement Reference
SG220128OTHRZ5P2
Submitted By (Co./ Ind. Name)
TEOH CHIA-YIN / MARC TAN
Designation
JOINT GROUP SECRETARIES
Description (Please provide a detailed description of the event in the box below)
DBS Bank Ltd. has agreed to acquire the consumer banking business of Citigroup Inc (Citi) in Taiwan (Citi Consumer Taiwan) via a transfer of assets and liabilities, and will pay Citi cash for the net assets of Citi Consumer Taiwan plus a premium of SGD 956 million.

Please see attached for more details.

Attachments

2022_01_DBS to acquire Citi TW_Press.pdf
2022_01_DBS to acquire Citi TW_IR.pdf
Total size =437K