A bid from a group led by the investment banking subsidiary of Citicorp won the issue, which consists of serial and term bonds.
Smith Barney is its brokerage and investment banking subsidiary.
Blackstone Group is forming an alliance with the investment banking subsidiary of Banque Indosuez.
Net income from Furman Selz, the company's investment banking subsidiary, fell to $12 million last year from $23 million in 1989.
The issue was bought by the investment banking subsidiary of the Bank of America.
Deutsche, which would have clearly dominated the new institution, had insisted on gutting most of Dresdner's investment banking subsidiary.
Kidder also intends to acquire 25 percent of Pasfin, a 90-percent-owned investment banking subsidiary of Sopaf.
The investment banking subsidiaries of Nationsbank and BankAmerica are rivals.
Operating income at Smith Barney, the investment banking subsidiary of the Travelers Group, rose 45 percent, to $302.5 million, from $208.7 million a year earlier.
In the past, the investment banking subsidiary had been included in umbrella campaigns for its parent.
A bid from a group led by the investment banking subsidiary of Citicorp won the issue, which consists of serial and term bonds.
Smith Barney is its brokerage and investment banking subsidiary.
Blackstone Group is forming an alliance with the investment banking subsidiary of Banque Indosuez.
Net income from Furman Selz, the company's investment banking subsidiary, fell to $12 million last year from $23 million in 1989.
The issue was bought by the investment banking subsidiary of the Bank of America.
Deutsche, which would have clearly dominated the new institution, had insisted on gutting most of Dresdner's investment banking subsidiary.
Kidder also intends to acquire 25 percent of Pasfin, a 90-percent-owned investment banking subsidiary of Sopaf.
The investment banking subsidiaries of Nationsbank and BankAmerica are rivals.
Operating income at Smith Barney, the investment banking subsidiary of the Travelers Group, rose 45 percent, to $302.5 million, from $208.7 million a year earlier.
In the past, the investment banking subsidiary had been included in umbrella campaigns for its parent.
