(Reuters) - Citigroup Inc (N:C) is planning on taking its OneMain Financial Inc personal loan business public by September end, Bloomberg said citing people with knowledge of the matter.
OneMain, which is worth at least $4 billion (2.45 billion pounds), is expected to start considering offers from potential buyers, the report said. (http://bloom.bg/1D1zVnD)
In May, Chief Executive Officer Mike Corbat said at an investor conference that Citigroup could dispose of the company through an outright sale to a private equity firm, a public stock offering, or a combination of the two, if prices are good.
OneMain makes subprime loans to individuals and is profitable but does not fit the company's strategy, Corbat had said.
Rival installment loans providers, SpringLeaf Holdings Inc (N:LEAF) is interested in acquiring OneMain, the report said, citing the people.
In recent months, Citigroup has held talks with suitors including SpringLeaf, but the talks have not translated into formal discussions, the people said.
Citigroup and SpringLeaf were not immediately available to comment.
(Reporting by Subrat Patnaik; Editing by Bernard Orr)