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Citigroup to sell Primerica stock

By
Dec 13, 2011

Citigroup plans sell off its remaining holdings Duluth-based insurance and financial services firm Primerica.

Primerica, which was spun out of Citigroup last year and taken public, said Tuesday the New York-based banking giant would sell its remaining stake of around 8 million common shares.

In November, Primerica repurchased nearly 9 million shares from Citigroup for $22.42 per share. Citigroup currently holds a 12.5 percent stake in the company. Citigroup spun off Primerica last year as it focused on core businesses following the financial crisis.

About the Author

J. Scott Trubey is the senior editor over business, climate and environment coverage at The Atlanta Journal-Constitution. He previously served as a business reporter for the AJC covering banking, real estate and economic development. He joined the AJC in 2010.

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