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Citigroup sells remaining ownership stake in Primerica

Citigroup sold off the last of its 8 million share stake in Primerica. Primerica was spun off in an initial public offering in April 2010. After that deal, Citigroup owned about 40 percent of Primerica common stock. In April 2011, Citigroup publicly sold 12 million shares of Primerica stock, reducing...

By Paula Aven Gladych | Updated on December 21, 2011

Citigroup sold off the last of its 8 million share stake in Primerica. Primerica was spun off in an initial public offering in April 2010. After that deal, Citigroup owned about 40 percent of Primerica common stock. In April 2011, Citigroup publicly sold 12 million shares of Primerica stock, reducing its ownership stake to 23.1 percent.

Primerica repurchased $200 million in shares in November, reducing Citigroup’s ownership to 12.5 percent. The sale this week completes the process of Citigroup selling off its remaining equity stake in Primerica.

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