DBS is to buy Citi’s consumer operations in Taiwan in a deal which strengthens the Singaporean bank’s hand in a lucrative market. The sale is also a crucial step in Citi’s efforts to divest consumer businesses across Asia and EMEA.
The transaction’s cost is difficult to pin down. Both sides agree the premium being paid over the net asset value is NT$19.8 billion ($715 million, or S$956 million), but the cash consideration for the NAV will not be clear until the deal closes in mid 2023.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
