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Out of the Citi

Posted on October 9, 2009 10:30 PM
The auction block is littered with Citigroup Inc. assets. The financial services giant is trying to shed a bundle of its asset management and consumer lending businesses, placing them in a temporary division until sales materialize.

Dubbed Citi Holdings and formed as part of a corporate reorganization on Jan. 16, this entity houses units officially up for grabs. Citi Holdings looks to either sell, manage through the cycle or unwind businesses including Primerica Life Insurance Co., a middle-income family insurance and mutual fund provider, a batch of credit card businesses, student, auto and leveraged loan portfolios, and insurance and pension fund operations in Latin America.

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