Citi (C) Enters Exclusive Talks in OneMain Sale

July 1, 2011 9:30 AM EDT
Word that Citigroup (NYSE: C) is in talks to sell its OneMain consumer financial services business are surfacing again.

Citi has been trying to sell the unit, formerly known as CitiFinancial, for months. The WSJ reports, citing people familiar with the matter, that Citi has now been in exclusive talks with Centerbridge Capital Partners LLC and Leucadia National Corp. on a potential deal.

OneMain has a book value of $2 billion and assets north of $10 billion. Citi began looking to sell the unit in January.

Nothing besides unconfirmed sources has been leaked to support the rumor.

Citi shares are down slightly pre-market.

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