Source: Citi May Keep Stake in Consumer Unit Sale

Tuesday, 08 Mar 2011 10:40 AM

 

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Citigroup Inc. is open to retaining a minority stake in its CitiFinancial unit and is offering partial financing to bidders for the consumer finance business, several sources familiar with the deal said.

The bidders, a handful of consortia consisting of more than 10 private equity firms, will need to come up with several billion dollars of financing to take over about $13 billion of CitiFinancial assets, the sources said.

Citigroup declined to comment. The sources are anonymous because the talks are not public.

© 2014 Thomson/Reuters. All rights reserved.

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