Financial services giant Citigroup is buying lending powerhouse Associates First Capital Corp., a market leader in truck financing and leasing, for $29.5 billion in stock.

The deal will give Citigroup control of the largest publicly traded finance company in the United States and the fifth largest consumer finance company in Japan.
Pending shareholder approval, the deal has been unanimously approved by the boards of both companies and is expected to close by the end of the year.