Blackstone eyes Citi's auto-loan unit: report

19 November 2009 @ 11:07 am EDT

Blackstone Group and other private equity firms have held informal talks with Citigroup Inc over its auto loan unit CitiFinancial Auto, the New York Post said, citing sources.


Blackstone eyes Citi's auto-loan unit: report
A man stands outside a Citibank branch in New York August 13, 2009. Kenneth Feinberg, 63, may face his toughest challenge yet as the Obama administration's pay czar, exerting authority over the highest-paid employees at massive companies bailed out by U.S. taxpayers. Friday is the deadline for several companies that received taxpayer bailouts, including Citigroup Inc, American International Group Inc, Bank of America Corp, Chrysler Financial, Chr...
1 of 1

The unit maintains a loan portfolio of about $16 billion, according to the paper.

Blackstone and Citigroup could not be immediately reached for comment by Reuters outside regular U.S. business hours.

The U.S. government injected $45 billion into Citigroup and is the bank's largest shareholder, with a roughly 34 percent stake.

(Reporting by Ajay Kamalakaran in Bangalore; Editing by David Holmes)

Copyright 2009 Thomson Reuters. All rights reserved.

E-Newsletters

We value your privacy. Your email address will not be shared.

Home
World
US
Economy
Companies
Tech
Science
Global Markets
Education
Real Estate
Forex
Commodities
Gold & Silver Matters
More Sections
Fashion
Auto
Travel
Health
Law
Entertainment
Sports
Luxury
Art
Books
Tech & Trend
Tools & Features
Topics
Blogs
Market Data
Stock Watch List
Investment Calculator
Financial Glossary
Broker Center
World Business Headlines
Updates
RSS Feeds
IBTimes on Twitter
IBTimes on Facebook
E-Newsletters
Services
Forex Newsfeed
Research
Press Release
About IBTimes
News Licensing
Media Kit
Advertise with Us
About IBTimes
Contact Us
Terms of Service
Privacy Policy