Sunday 09, August 2009 by
Citi to sell Nikko Asset Management to Sumitomo Trust
Citi said that it has reached a definitive agreement to sell its entire ownership interest in Nikko Asset Management (Nikko AM), one of Japan's leading asset management companies, to The Sumitomo Trust and Banking Co as part of a transaction that values Nikko AM at ¥120 billion ($1.26 billion at an exchange rate of ¥95.07 to $1.00).
