US gets rid of Citigroup stake

The US government is set to dispose of its remaining stake in Citigroup for a $312.2m (£196m) profit, the Treasury Department said last night. The sale of 465.1m warrants to purchase common shares in Citi were acquired as part of the Troubled Asset Relief Programme, or TARP. American taxpayers are expected to end up $12.3bn in profit on the government’s investment in Citi. Deutsche Bank Securities is the sole bookrunner on the deal.