Skadden Advises Citi On $216M Primerica IPO

Law360, New York (March 17, 2010, 3:23 PM EDT) -- Citigroup Inc. revealed further details of an initial public offering for its Primerica Inc. subsidiary on Wednesday, saying it will sell 18 million shares of its life insurance unit for $12 to $14 per share.

The financial giant has also agreed to sell 17.2 million shares to private equity funds managed by Warburg Pincus LLC in a private deal worth up to $230 million, according to a filing with the U.S. Securities and Exchange Commission.

Warburg Pincus will get warrants to purchase an extra 4.3 million...
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