Citigroup is considering the sale of several assets in Japan to raise cash besides retail brokerage Nikko Cordial which is already on the market, according to a report.
Citi may also sell all or part of investment bank unit Nikko Citigroup and Nikko Asset Management, together with Nikko Cordial, Sources tell Reuters.
The sources requested anonymity because they were not authorized to speak publicly on the matter. They said Citigroup expects to get a higher price for the assets by selling them together.
Citi may seek bids for the investment banking operations on April 20, the sources said. It may also choose to sell just part of Nikko Citigroup, the sources noted.