NEW YORK ( TheStreet) -- Citigroup (C) appears to have sparked a bidding war by putting its U.S. consumer lending business on the chopping block, with big guns in the private-equity and banking world reportedly interested in buying the business.
According to Bloomberg, no less than four teams are bidding for the business - once known as CitiFinancial and now rebranded as OneMain Financial - which has about $13 billion in assets.
According to the report, one group interested in making a bid consits of BlackRock (BLK), KKR (KKR) and Warburg Pincus. That group is considering including Banco Santander (STD) as well. In an interview on Bloomberg TV, BlackRock CEO Larry Fink said that if his firm made a bid for OneMain, "it would be on behalf of clients, not for our balance sheet."
Another group of interested suitors is reportedly being led by Brysam Global Partners, a private equity shop headed by former Citi President and
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