The sovereign fund may add more banks later and the final lineup of advisers may change as there is no final decision on the timing of the IPO
As Israel and Gaza have erupted in violence, multinational companies operating in the country have had to scramble to protect their employees while continuing operations
IPOs in the Middle East have fetched $5.1bn so far this year, exceeding volumes seen during the same period in nine of the last 10 years
Berkshire’s now betting on Citigroup as new management takes over
The transaction includes Citigroup’s retail-banking, credit-card and unsecured-lending businesses
Following $122bn in debt sales in 2021, governments and companies will probably front-load much of their funding needs this year
Citigroup raised its fourth-quarter Brent forecast to $85 a barrel
Citigroup ultimately plans to exit retail-banking operations in Australia, Bahrain, China, India, Indonesia, South Korea, Malaysia, the Philippines, Poland, Russia, Taiwan, Thailand and Vietnam
The move is part of an ongoing review of the company’s strategy by its chief executive officer
Wassim Al Khatib will lead Citigroup’s investment banking and markets business in Saudi Arabia
She will continue as country officer for the UAE, a role she assumed in 2016
The company was valued at about $500m in a 2019 funding round