Centrum May Buy Part Of CitiFinancial’s India Arm, Standard Says

Centrum Group is in advanced talks with Citigroup Inc. to buy part of its Indian consumer finance arm’s portfolio for 5.5 billion rupees to 7 billion rupees, the Business Standard reported today, citing two people with direct knowledge of the matter.

Mumbai-based Centrum is looking to buy personal, consumer durable and secured loans with tenures of 24 months to 36 months, the paper said, citing one of the people.

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