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Centerbridge, Leucadia To Bid For Citi Unit

Leucadia National has partnered with Centerbridge Capital Partners to bid for Citigroup’s consumer-lending business, OneMain.

Leucadia National has partnered with Centerbridge Capital Partners to bid for Citigroup’s consumer-lending business, OneMain, Bloomberg reports. Citi, which decided to put the business up for sale after its 2008 government bailout, has valued the business at $2 billion, adds FINalternatives.

Other bidders for the business include a group, including Brysam Global Partners, Blackstone Group, Carlyle Group and Thomas H Lee Partners, while the third bidding group includes Apollo Management and JC Flowers. Citi earlier rejected a bid made by New York hedge-fund and buyout firm, Cerberus Capital Management.

Click here for the story from Bloomberg.

Click here for additional coverage from FINalternatives.

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