🠈 Citi and its many flavors 🠊
Citigroup, Citicorp, Citi Holdings and CitiWhatnot
The City Bank of New York was established in 1812. The group and its subsidiaries have been involved in numerous transactions in its two centuries of existence. This page simply lists transactions that I've encountered in other research.
- 1812: City Bank of New York was incorporated with $2M in assets.
- 1981: Citicorp spun off its Citicorp Venture Capital as CVC Capital
- 1988: Citicorp arranged for Mohasco to be acquired by MHS Holdings. MHS split into multiple groups including Mohawk Industries and CORT Furniture Rentals.
- 1995: A private equity firm called Bruckmann, Rosser, Sherrill & Co. split from Citigroup.
- 1997: Citigroup acquired Salomon Brothers
- 1997: Citigroup worked with managers to acquire Bob's Stores from CVS. Bob's went bankrupt in 2003 and was acquired by TJX Companies
- 1998: Citigroup acquired Travelers Group. The merger created a company worth $140B.
History of Travelers Group
- 1998: Travelers Group acquired Salomon Brothers
History of Salomon Brothers
Salomon Brothers is an investment bank that was involved in multiple large Wall Street transactions. This subsection will record reference as I encounter them in my research.
- 1910: Arthur, Herbert and Percy established the firm as a partnership.
- 1967: The company merged with Phibro, an investment firm, to become Salomon, Inc..
- 1986: Salomon financed Revco's attempt to become private to stave off a hostile takeover. Salomon then took over Revco.
- 1998: Travelers Group acquired Salomon Brothers
- 2004: Citigroup acquired Metalmark Capital which just split from Morgan Stanley.
Directory Listings:
- Internet Rivers - Private Equity Firms: Citigroup