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Berkshire Is in Group Bidding on Citi Unit

Guest kumar

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Guest kumar




Warren Buffett's Berkshire Hathaway Inc. is part of a bidding group engaged in exclusive talks to buy the consumer-lending business formerly known as CitiFinancial from Citigroup Inc., said people familiar with the matter.


Berkshire rounds out a consortium that includes Centerbridge Partners LP and Leucadia National Corp. bidding for the business, which could fetch more than $8 billion....


....Centerbridge is a hedge fund and private-equity investor that often scoops up troubled businesses....Berkshire partnered with Leucadia in 2009 to buy Capmark Financial Group Inc.'s commercial-mortgage origination and servicing business, renaming it Berkadia Commercial Mortgage....

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