Banco de la Producción, S.A. agreed to acquire Banco Citibank de Guatemala Ltda and Cititarjetas de Guatemala Ltda from Citigroup Inc. (NYSE:C) on September 17, 2015. Citibank Guatemala will begin operating under Grupo Promerica's brand. The agreement is subject to regulatory approvals. The transaction is expected to close in the first quarter of 2016. Deutsche Bank acted as a financial advisor and Fernando C. Alonso, David R. Yates, Stefano D’Aniello, Rail Seoane, B. Cary Tolley III, Mark A. Melton and Eric J. Hanson of Hunton & Williams LLP and Arenales & Skinner-Klée acted as a legal advisors to Promerica Financial Corp. Alejandro Gonzalez Lazzeri, Brian Krause, Partner, Erica Schohn, Stuart D. Levi, Stuart M. Finkelstein and Paola Lozan of Skadden, Arps, Slate, Meagher & Flom acted as legal advisor to Citi. Citigroup acted as financial advisor to itself. Banco de la Producción, S.A. cancelled the acquisition of Banco Citibank de Guatemala Ltda and Cititarjetas de Guatemala Ltda from Citigroup Inc. (NYSE:C) on September 17, 2016.