Citibank's escrow service

JAKARTA (JP): Citibank announced on Monday the launch of ExcrowPlus!, an integrated breadth of escrow services for companies and organizations in the process of restructuring, mergers and acquisitions or sale and purchase of assets.

The company said it launched the product in response to the recent economic upsurge, which had accelerated a flurry of restructuring, mergers and acquisitions around companies that wanted to take advantage of the economic improvement.

EscrowPlus! provides full services, from close monitoring and control of operations to financing cash flows, electronic availability of customizable escrow and cash flow reporting to independent custody.

Citibank said that EscrowPlus!, which is claimed as the first product of its kind available in Indonesia, would also provide supervision of assets during any transactional due diligence. (cst)