Citigroup in $6.9 Billion Acquisition of Dollar General Led by KKR

March 12, 2007

Cleary Gottlieb is representing Citigroup Global Markets, in its capacity as a bridge investor, and Citigroup Private Equity, in its capacity as a co-acquiror, in the $6.9 billion acquisition of Dollar General Corporation led by Kohlberg Kravis Roberts & Co. The deal, announced on March 12, is expected to close in the third quarter, subject to the approval of Dollar General shareholders, customary closing conditions and regulatory approvals. With respect to Citigroup Global Markets’ bridge investment, Citigroup is committing its capital to the acquisition led by KKR with the intent of selling its commitment to Citigroup’s investor clients pre- or post-closing.

Dollar General is a Fortune 500 discount retailer with 8,260 neighborhood stores.