Citigroup acquiring remaining SIV assets

Updated Friday, November 21, 2008 10:51 am TWN, AP

Citigroup acquiring remaining SIV assets

NEW YORK -- Citigroup Inc. said Wednesday it is acquiring the remaining US$17.4 billion in assets held by structured investment vehicles it already supports, as the bank moves to unwind the troubled funds.

Citi will move the SIV assets to a portfolio of assets held for sale. The transfer allows the funds to fully repay maturing debt obligations.

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