Citi sells Yield Book for $685 million in cash
The London Stock Exchange (LSE: LSE) has agreed to purchase Citigroup's fixed-income analytics services business for $685 million in cash.
The transaction allows Citi to exit a non-core business and focus on improving returns.
Citi (NYSE: C) announced the sale today after what had reportedly been a year-long sale process.
The divestiture underscores Citi's strategy of focusing on core businesses and monetizing non-core assets, according to a prepared statement.