The U.S. Treasury said on Friday it will auction warrants in Citigroup Inc
The Treasury said it will sell the warrants, obtained when it provided bailout capital to the banks during the financial crisis, through a modified Dutch-style auction.
The auctions would rid the Treasury of its final investments in those three financial companies.
In December, the Treasury sold the last of its common shares in Citigroup acquired in the $45 billion bailout of the bank in 2008 and 2009. The Treasury said it earned a $12 billion profit on its investments in Citigroup so far.
The warrants were issued at no cost to the government, and net proceeds from the sales should add to Treasury's profit.
The Treasury has retained Deutsche Bank Securities
(Reporting by David Lawder; Editing by Padraic Cassidy)