By Mike Spector, Christina Rexrode and Gillian Tan
Subprime lender Springleaf Holdings Inc. and private-equity firm
Centerbridge Partners LP are among those separately weighing
initial bids for Citigroup Inc.'s U.S. subprime lending business
ahead of a Thursday deadline, said people familiar with the
matter.
The sale process for the business, OneMain Financial, is in
early stages and other bidders could emerge, the people said. In
addition to Springleaf and Centerbridge, other private-equity firms
have been eyeing OneMain, and some bidders could team up as they
attempt to buy the Evansville, Ind., lender, some of the people
said.
OneMain is expected to fetch more than $4 billion, one person
said.
Citigroup has said it is open to spinning off OneMain as a
separate public company, selling it or a combination of the two.
OneMain in October filed paperwork with regulators to pursue a
possible initial public offering.
Write to Mike Spector at mike.spector@wsj.com, Christina Rexrode
at christina.rexrode@wsj.com and Gillian Tan at
gillian.tan@wsj.com
Access Investor Kit for Citigroup, Inc.
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=US1729674242
Subscribe to WSJ: http://online.wsj.com?mod=djnwires