Citi Sells CDR To EBS For Some $150MM; Deal Follows Failed Talks With Others

The EBS Partnership has bought Citicorp Dealing Resources (CDR), its technology provider and sole marketing agent, from Citibank. According to sources close to the transaction, Citi collected in the ballpark of $150 million for CDR. Citi is itself a partner in the EBS venture, which owns and now will operate the Electronic Broking Service (EBS) FX order-matching service.

EBS's purchase of CDR follows failed talks between Citi and both Dow Jones Telerate and Knight-Ridder Financial parent Welsh