Citigroup to Buy S.Korea's Koram Bank
(Agencies)
Updated: 2004-02-23 09:05

Citigroup will buy South Korea's Koram Bank for $2.74 billion, including purchasing a 36.6 per cent stake held by the Carlyle Group, Koram said on Monday.

Citigroup aimed to buy more than 80 per cent of the country's seventh-largest bank through a deal with U.S. investment fund Carlyle and from the stock market, Koram said in a statement.