Citibank's escrow service

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)