Citigroup to Sell $4.3B Private Equity Fund and 2 Other Hot Stocks to Watch
Citigroup Inc. (NYSE:C): Current price $49.41
Citi will divest a $4.3 billion private equity fund, Citi Venture Capital International, for an undisclosed price to the investment firm Rohatyn Group, which will have in excess of $7 billion in assets under management following the transaction, according to a company statement. The Wall Street Journal first reported the sale, which should close in the fourth quarter.
BlackBerry Ltd. (NASDAQ:BBRY): Current price $10.35
BlackBerry shares are up around 2.5 percent Tuesday morning in heavy volume trading after Microsoft Corp. agreed to purchase Nokia’s handset business in a $7.2 billion transaction. The stock has dropped by 6.1 percent since August 12, when BlackBerry said it was exploring a sale, and is down by 15 percent in 2013. In August, a BlackBerry board committee began looking at a sale of the company while also exploring the idea of partnerships to save it from a three-year sales slump that has lowered its market value by around 90 percent.
Ford Motor Co. (NYSE:F): Current price $16.36
Lyle Watters – Ford’s chief financial officer and vice president of finance for Ford of Europe — will participate in the MainFirst Frankfurt Auto Investor & Analyst Conference on September 10. The presentation will start at 5:20 a.m. EST and will last for about 45 minutes. An audio-only webcast and presentation materials will be made available at www.shareholder.ford.com.
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