CitiFinancial Secures Three $2B Bids

Citigroup has secured at least three bids for around $2 billion from private equity groups for its consumer finance business, CitiFinancial, Financial Times reports. The bidders include a consortium of U.S. asset manager BlackRock, CarlyleGroup and BrysamGlobalPartners.

Clayton Dubilier & Rice and Onyx comprise a second consortium, while Apollo Management and JC Flowers are part of a third group. Another private equity firm, Warburg Pincus, had also initially shown interest in the business.

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