September 19, 2018 / 2:24 PM / a month ago

Goldman Sachs nears deal to sell its fintech app - WSJ

Sept 19 (Reuters) - Goldman Sachs is in advanced talks with several financial companies to spin off 'Simon', its three-year-old app that sells financial products to retail investors, the Wall Street Journal reported on.wsj.com/2OzaWmf on Wednesday, citing people familiar with the matter.

JPMorgan Chase, Barclays, HSBC Holdings , Credit Suisse, Wells Fargo and insurer Prudential Financial have expressed interest for a stake in the business, the report said.

The deal, which would value the app at around $100 million, is likely to be finalised in the coming weeks.

Goldman Sachs did not immediately respond to a request for comment. (Reporting By Aparajita Saxena in Bengaluru; Editing by Arun Koyyur)

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