Deals
DBS, StanChart Plan to Bid for Citigroup Asia Retail Units
- Binding bids for four markets due Friday, India next week
- Lenders drawn by high fees from credit card, wealth businesses
Photographer: Daniel Acker/Bloomberg
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DBS Group Holdings Ltd. and Standard Chartered Plc are among the lenders planning to bid for Citigroup Inc. consumer banking assets in Asia as the U.S. lender divests units across five markets in the region, according to people familiar with the matter.
Binding bids for Citigroup’s retail assets in Indonesia, the Philippines, Taiwan and Thailand are due Friday, while offers for the India unit are due next week, said the people, who asked not to be identified because the information is confidential.