Industry News

Citigroup builds real estate business

Bank to buy Principal Financial's mortgage operations
Published on May 12, 2004

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by CareyBot

Citigroup announced today it will buy Principal Financial Group’s mortgage business for approximately $1.3 billion. The acquisition of Des Moines, Iowa-based Principal Residential Mortgage includes about $6.9 billion in assets and $137 million of franchise premium. The deal, expected to ...