“Will my dividends get cut more after UOB buys Citigroup?” No, wait… “Is this even a good acquisition?” Okay, okay let’s take a step back on this huge news. It’s not everyday UOB gets to buy a new business. Here’s the thing: UOB Ltd (SGX:U11) has won the bid to buy out Citigroup’s S$5 billion Consumer Business in Asia. And I’m positively surprised. I’ll explain. Citigroup’s Consumer Business has presence in Indonesia, Malaysia, Thailand And Vietnam. The four big markets that UOB is in. That’s outside Singapore. Now, Consumer Businesses are Citigroup’s lending business — including personal and housing loans, deposits and its wealth management business. This is a pretty big deal for UOB UOB is shelling out cash that equals 10% of UOB’s market cap for Citigroup’s consumer business. Today, UOB’s market stands at S$50 billion.