Citigroup is in exclusive talks to sell OneMain to Centerbridge Capital Partners and Leucadia National, The Wall Street Journal reports. The other bidders for Citi’s consumer finance unit included a group led by Blackstone Group and the team of Apollo Management and JC Flowers.
The unit was rebranded and restructured last year, valuing the business at $2 billion and assets of nearly $10 billion. OneMain, formerly known as CitiFinancial, had been up for sale since a year.
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