Cerberus, Centerbrige eyeing Citi consumer unit-report
NEW YORK, April 7
NEW YORK, April 7 (Reuters) - Cerberus Capital Management LP [CBS.UL] and Centerbridge Capital Partners are among the bidders for Citigroup Inc's (C.N) U.S. consumer-lending unit, Bloomberg News reported on Thursday, citing three people with knowledge of the matter.
Reuters reported in March that Citigroup was looking to sell the business without taking losses and was offering partial financing to bidders.
Reuters also reported then that bidders included a handful of groups consisting of more than 10 private equity firms including Warburg Pincus LLC [WP.UL] and KKR & Co (KKR.N) in one group and Blackstone Group (BX.N) and Carlyle Group [CYL.UL] in another. [ID:nN08101968]
Bloomberg said on Thursday that the group that included Warburg Pincus withdrew from the process, according to one person.
Cerberus and Citi declined to comment. Officials at Centerbridge, Warburg Pincus and KKR could not be reached immediately. (Reporting by Martinne Geller and Ernest Scheyder; editing by Carol Bishopric)
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