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Sovereign Wealth Funds Briefing - Categorized | Market, Performance

Kuwait SWF says sells $4.1bln Citigroup stake, makes $1.1bln profit

Posted on 07 December 2009

From Zawya Dow Jones: The Kuwait Investment Authority, the Gulf country’s sovereign wealth fund, said Sunday it sold a $4.1 billion stake in Citigroup Inc. making a profit on the deal.

The fund, also known as the KIA, said it made a $1.1 billion profit from the sale, or a 36.7% return on its investment, according to an emailed statement…………………………….Full Article: Source

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