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Morgan Stanley to acquire remaining 49% stake in Morgan Stanley Smith Barney from Citigroup

Sep 17, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --

Companies: Citigroup, Inc. (C), Morgan Stanley (MS)

Citigroup, Inc., a financial services holding company, plans to sell its 49% stake in Morgan Stanley Smith Barney to Morgan Stanley, a financial services company. All the three companies are based in the US.

Morgan Stanley Smith Barney was formed as a joint venture between Citigroup and Morgan Stanley by combining their brokerage and wealth management units.

Morgan Stanley holds a 51% stake in the joint venture. 

Deal Type    Acquisition
Sub-Category Majority Acquisition
Deal Status  Announced: 2009-09-17

Deal Participants 

Target (Company)   Morgan Stanley Smith Barney
Acquirer (Company) Morgan Stanley
Vendor (Company)   Citigroup, Inc.

% Acquisition 49%

Copyright (C) 2009 Datamonitor Financial Deals Tracker. All rights reserved

News Provided by COMTEX

Companies: Citigroup, Inc. (C), Morgan Stanley (MS)


Related terms: acquisition, financial services, joint venture

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