Kuwait fund sells $4.1 billion stake in Citigroup: report

Kuwait's sovereign wealth fund on Sunday said it has sold a $4.1 billion stake in Citigroup, according to a news report.

The Kuwait Investment Authority said it made a profit of $1.1 billion from the sale, or a 36.7% return on the investment, Dow Jones Newswires reported, citing an emailed statement,

The KIA invested $3 billion in Citibank /quotes/comstock/13*!c/quotes/nls/c (C 4.06, +0.01, +0.25%) and another $2 billion in Merrill Lynch at the beginning of 2008, the report said.

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- Posted: 2009-12-06 21:44:45

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