Banco Nacional de Crédito, C.A., Banco Universal (CCSE:BNC) agreed to acquire Venezuela Operations Of Citigroup Inc. from Citigroup Inc. (NYSE:C) on July 12, 2021. The deal is subject to approval from regulatory board. As of July 12, 2021 regulatory body approved the deal.

The deal is is expected to close in the next few weeks. Lozano, Paola of Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to Citigroup Inc.