Editing Citigroup (section)

=== Failed takeover of Nikko Asset Management ===
In 2007, Citigroup acquired 61% of [[Nikko Asset Management]] for $7.7 billion to take majority control in what was then the largest foreign buyout ever of a Japanese company.<ref>{{Cite news |last= |date=2007-04-27 |title=Citigroup Acquires Nikko |url=https://www.nytimes.com/2007/04/27/business/27nikko.html |access-date=2024-05-06 |work=The New York Times |language=en-US |issn=0362-4331 |agency=Reuters}}</ref> Citigroup attempted to buy out the remaining shares of Nikko later that year at a cost of $4.6 billion to take full control of the company.<ref>{{Cite news |last=Dolan |first=David |date=2007-10-03 |title=Citigroup to buy rest of Nikko in $4.6 bln deal |url=https://www.reuters.com/article/idUST146777/ |access-date=2024-05-06 |work=Reuters}}</ref> Two years later, Citigroup sold its stake to Sumitomo Trust and Banking Co, a subsidiary of [[Sumitomo Mitsui Trust Holdings]], for $795 million as it retreated from Japan.<ref>{{Cite web |last=Bernard |first=Stephen |date=2009-07-30 |title=Citigroup sells stake in Japanese asset manager |url=https://www.sandiegouniontribune.com/sdut-us-citigroup-nikko-asset-management-073009-2009jul30-story.html |access-date=2024-05-06 |website=San Diego Union-Tribune |language=en-US |agency=AP}}</ref><ref>{{Cite news |last=Hodo |first=Chikafumi |date=2009-07-30 |title=Citi sells Japan asset manager in $1.2 billion deal |url=https://www.reuters.com/article/idUSTRE56S11N/ |access-date=2024-05-06 |work=Reuters}}</ref>