Citigroup Selling More Non-Core Assets

Citigroup Inc. (NYSE: C) announced that it will sell its stake in pension-fund administrator Administradora de Fondos de Pensiones Habitat S.A. (A.F.P. Habitat), the second biggest pension fund administrator in Chile.

Citigroup says that it will receive about $300 million from the deal but that the sale will have no material impact on the banking giant's earnings.

The move is part of Citigroup Chief Executive Vikram Pandit's plan to sell non-core businesses. Least year he said that Citigroup would sell $900 billion in assets in non-core, scattered businesses. Since his announcement, Citigroup has sold $351 billion of these assets, including the Diners Club North America credit card business and the Japanese brokerage firm Nikko Cordial Securities.