The U.S. Treasury said today it received $10.5 billion from the Dec. 6 sale of its final 2.4 billion shares of Citigroup Inc. common stock, locking in at least $12 billion in profits from the government’s $45 billion rescue package.
“Treasury was able to exit its common stock investment in Citigroup much more quickly than many had expected,” said Tim Massad, acting assistant secretary for financial stability, in a statement.
© Copyright 2013 Bloomberg News. All rights reserved.