Skadden Advises Citi on Lockbox Transaction

Skadden is representing Citigroup Inc. in connection with its agreement with First Data to provide outsourcing services supporting Citi’s U.S. receivables business. Under the July 15 agreement, Citi will outsource the core processing elements of its U.S. lockbox operations to First Data. Colorado-based First Data is a technology and payments processing provider.