Citigroup is purchasing Legg Mason's Broker-Dealer business, while Legg Mason on the other hand is acquiring Citigroup's Asset Management Business. Along with the Broker-Dealer business, Citgroup will also acquire about $1.5 billion of Legg Mason's common and convertible preferred shares, and nearly $550 million in a five-year loan facility provided by Citigroup Corporate and Investment Banking.
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