Citigroup Inc. is believed to be in talks to acquire a second final-salary pension plan two weeks after a becoming the first banking company to buy a U.K. company retirement fund, The Times in London reported Friday.
The New York company is understood to be looking at a European plan worth about $398.8 million, though completion of the deal is not imminent, the paper said.
Sources told The Times that Citi (which refused to comment for the story) had the resources to make an acquisition worth more than $1.98 billion and had a number of other potential targets lined up.
Citi has been inundated with calls from companies keen to offload their final salary pension plans after reports that it paid a nominal sum for a shell company containing the $398.8 million Thomson Regional Newspapers fund, the paper said.
