X (Twitter) LinkedIn
    Tuesday, December 5
    Login
    0 Shopping Cart
    X (Twitter) LinkedIn
    Private Equity InsiderPrivate Equity Insider
    • About Us
    • Digital Events
    • Our Network
      • Reach
      • Sponsors
      • Members
    Private Equity InsiderPrivate Equity Insider
    Home»Mergers & Acquisitions»Warren Buffett buys $3bn Citigroup stake in value-hunting stock splurge
    Mergers & Acquisitions

    Warren Buffett buys $3bn Citigroup stake in value-hunting stock splurge

    May 17, 2022Updated:May 17, 20221 Min Read
    LinkedIn Facebook Twitter Email WhatsApp
    Share
    LinkedIn Facebook Twitter Email WhatsApp

    Berkshire Hathaway exits Wells Fargo and buys up oil companies, quarterly disclosure shows

    Warren Buffett’s Berkshire Hathaway has made a big bet on Citigroup, as the legendary investor funnels some of the conglomerate’s mammoth cash hoard into stocks during this year’s market decline.

    Berkshire bought $3bn worth of shares in the Wall Street bank in the first quarter, giving the group a stake of about 2.8 per cent, according to filings with regulators. The investment came as Berkshire sold the remainder of its position in Wells Fargo, a rival bank that had been a staple in Buffett’s portfolio for more than three decades.

    Buffett, Berkshire’s chief executive, watched from the sidelines as markets plunged and then rallied at the height of the pandemic. But at the start of this year, he ploughed $51.1bn into the market as global stocks sagged in the face of a hawkish pivot from the Federal Reserve, supply chain disruptions, strong inflation and the war in Ukraine.

    Read more: FT

    Related

    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

    deals and transactions Mergers and acquisitions Private Equity
    Share. LinkedIn Facebook Twitter Email WhatsApp

    Related Posts

    Warburg Pincus surpasses target to close $17bn private equity fund

    October 18, 2023

    Brookfield banks $12B for its largest PE fund

    October 18, 2023

    UBS Agrees to Buy Credit Suisse for $3 Billion in Historic Deal – Copy

    March 19, 2023

    UBS Agrees to Buy Credit Suisse for $3 Billion in Historic Deal

    March 19, 2023

    Comments are closed.

    Other Articles

    Inflexion Weighs Sale of $2.7bn UK Fuel-Card Firm

    January 25, 2022

    Deutsche Bank and UBS get rare lifeline on buyout debt for Cornerstone deal

    July 19, 2022

    Mullins in private equity talks that could value Pimlico Plumbers at £100m

    June 3, 2021

    Maven leads GBP1.5m funding round in Boiler Plan

    April 1, 2021

    Private Equity Insider LLC
    1212 Avenue of the Americas
    New York City 10036
    USA

    [email protected]

    X (Twitter) LinkedIn
    © 2023 Private Equity Insider LLC. All rights reserved.
    • About
    • Terms of Use
    • Cookie Policy
    • Privacy Policy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.

    View Cart Checkout Continue Shopping

    Sign In or Register

    Welcome Back!

    Login to your account below.


    Lost password?