BUSINESS BRIEFING / BANKS
- Share via
Times Wire Reports
Citigroup Inc. says it filed plans for an initial public offering of its Primerica Inc. life insurance unit and will sell off the rest of the division after it goes public.
Divesting the company is part of Citi’s effort to simplify its operations in the wake of the financial crisis. Citi acquired Primerica, which is focused on the middle-income market, in the late 1980s.
Citi will sell all the shares being offered and will receive all proceeds from the IPO.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
