Citibank 2005 Annual Report Download - page 16

“ We expect a lot from Citigroup
because of its global presence.
We rely upon the expertise and
advice Citigroup provides to
us, and I would like to see this
relationship, which stretches back
100 years, last another 100.”
WOLFGANG H. REICHENBERGER
EXECUTIVE VICE PRESIDENT, FINANCE
NESTLÉ S.A., SWITZERLAND
“TreasuryVisionSM is groundbreaking,”
said Lionel L. Nowell III, PepsiCo’s
SVP and Treasurer. “It allows us to ini-
tiate new services, not just choose from
what’s available, and that gives us a real
competitive advantage.”
In August, China National Petroleum
Company (CNPC) announced the
largest-ever cross-border M&A transac-
tion by a Chinese company with its
acquisition of PetroKazakhstan. The
company faced a complex set of chal-
lenges from rising oil prices, strong
competition, and recent unsuccessful
attempts by other Chinese companies
to acquire abroad. Working with teams
from M&A, Energy, and Fixed Income,
and with coverage bankers from Hong
Kong, China, London, New York, and
Canada, CNPC achieved its goal and
completed the $4.18 billion transaction
in just four months.
GLOBAL REACH
When it required a bookrunner with
leadership positions and local talent in
markets across Latin America, Ternium,
a global steel production and manu-
facturing company, selected Citigroup
to fi nance its tender offer for 99.3
percent of the shares of Hylsamex S.A.
de C.V. The $1.38 billion deal was the
largest corporate debt fi nancing ever
structured in Argentina, and allowed for
fi nancing at the holding company level,
diversifying the facility risk across three
countries, providing investors with
sound investment opportunities.
“Citigroup’s global reach made it
the ideal partner in this transaction,”
said Daniel Novegil, Ternium’s Chief
Executive Offi cer.
14 | Citigroup 2005
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