Financial Services Industry
Industry: Email Alert RSS FeedCitigroup Awarded Nestlé, ICI Programs
Global Finance, Sep 2004 by Platt, Gordon
EUROPE
Citigroup scored two major successor depositary appointments from companies based in Europe.
Imperial Chemical Industries, a global specialty products and paint manufacturer based in the UK, and Nestle, the leading food company based in Switzerland, moved their DR programs to Citigroup.
Nestlés Level I program trades in the over-the-counter market. ICIs ADRs are listed on the New York Stock Exchange.
IONA Technologies, a Dublin, Ireland-based designer of systems-integration systems, appointed Deutsche Bank as successor depositary for its Nasdaq-listed ADR program.
IONA's customers include telecom, financial services, aerospace and manufacturing companies worldwide.
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Mediaset, a communications and broadcasting group based in Italy, appointed JPMorgan Chase as successor depositary bank for its Rule 144A program.
-Gordon Platt
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