DGAP-News: ARAGON AG: Aragon and Citi enter into a strategic partnership
(firmenpresse) - ARAGON AG / Miscellaneous
26.08.2010 07:00
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- Aragon and Citi enter into a strategic partnership
- Citi acquires 10.1% stake in Aragon
Citigroup Financial Products Inc., a subsidiary of Citigroup Inc (Citi),
has acquired 10.1% of the shares of stockmarket-listed Aragon AG.
This stakeholding underpins a planned strategic, long-term partnership
agreed between Aragon AG and Citi's European investment products business.
With over 18.000 independent financial advisers (IFAs), Aragon AG has the
largest financial services distribution network in German-speaking
countries and is strongly expanding in Central and Eastern Europe.
This partnership is designed to expand and optimise Citi's capabilities in
developing marketing and distributing retail investments in Germany and
Central and Eastern Europe. A particular emphasis on mutual funds,
long-term savings and structured investment products is anticipated.
Angermayer, Brumm&Lange Group remains the largest shareholder (38%),
retaining the independence of Aragon AG. Other co-shareholders are AXA
(27%) and Credit Suisse (8%). The freefloat is 17%.
Dr. Sebastian Grabmaier, CEO of Aragon AG, stated: 'We are excited about
the partnership with a leading global financial service player like Citi
and warmly welcome them. Our belief is that modern sales organisations with
forward-looking strategies such as Aragon AG will be the winners of the
structural changes and of the various regulatory amendments in the
financial services markets. We intend to remain the innovator and the
driving force of the ongoing consolidation process within the German and
CEE sales companies.'
'This partnership is part of our business strategy for bringing investment
solutions to Germany and Central and Eastern Europe. We remain committed to
bringing well-structured and timely investments into the market, leveraging
our unrivalled capabilities, global presence and local understanding - this
new partnership means that we will be able to further strengthen our
knowledge and understanding of the needs of investors and IFAs across a
range of investments,' said Richard Burns, Managing Director and Global
Head of Retail Structured Products&Hybrid Products at Citi.
Aragon AG's announcement of the results of the second quarter of 2010 on
August 31, 2010 will be accompanied by further information on the strategic
partnership with Citi.
About Aragon AG
Aragon AG is a broadly diversified financial services group with four
business units: Broker Pools, Financial Consulting, Institutional Sales and
Holding. Aragon AG is actively engaged in the market with several
independent subsidiaries. The aim is to integrate a variety of sales models
under one roof without any of the sales teams losing their own identity.
The effect is a broad diversification across various asset classes and
sales types, with a consequently high stability in corporate earnings.
Further information about the company and its subsidiaries can be found at
www.aragon.ag.
About Citi
Citi, the leading global financial services company, has approximately 200
million customer accounts and does business in more than 160 countries and
jurisdictions. Through Citicorp and Citi Holdings, Citi provides consumers,
corporations, governments and institutions with a broad range of financial
products and services, including consumer banking and credit, corporate and
investment banking, securities brokerage, transaction services, and wealth
management. Additional information may be found at www.citigroup.com or
www.citi.com.
The Retail Structured Products (RSP) group is part of the Institutional
Clients Group within Citicorp. RSP offers a broad range of investment
solutions, designed to suit all levels of risk appetite across the full
range of asset classes. Additional information can be found at
www.citifirst.com.
About Angermayer, Brumm&Lange Group
The Angermayer, Brumm&Lange Group (ABL) is an independent Merchant
Banking Group with the business units Asset Management, Product
Distribution and Investment Banking. Founded in 1999, ABL is today with 6.4
Billion Euro Assets under Management,approx. 400 employees active in 15
countries worldwide and with more than 18.000 independent financial
advisors (IFAs) one of the leading financial services institutions in
GermanyABL's corporate equity of more than 100 million Euro is used to
follow a long-term buy-and-build approach.
The group focuses on the topics 'German Mittelstand', Africa, Renewable
Energy and Natural Resources. The firm is entirely privately-held by
Christian Angermayer, Peter Brumm, Andreas Lange, Ralph Konrad and Dr.
Sebastian Grabmaier as well as the Silvia Quandt family as a strategic
partner. Additional information can be found at www.abl-group.de
Contact:
Aragon Aktiengesellschaft
Ralf Funke
Investor Relations
Tel.: +49(0)611 890 575-0
Fax: +49(0)611 890 575-99
E-Mail: ir(at)aragon.ag
26.08.2010 07:00 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Datum: 26.08.2010 - 07:00 Uhr
Sprache: Deutsch
News-ID 32073
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Kategorie:
Business News
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