Indian financial group Centrum is in advanced talks to buy part of Citibank's (C.N) Indian consumer finance arm's portfolio for 5.5 billion to 7 billion rupees ($155.2 million), the Business Standard reported on Monday, citing two unnamed persons with direct knowledge of the matter. "Centrum's financial services unit is conducting stress tests on CitiFinancial India's portfolio. It is looking to buy personal, consumer durable and secured loans with tenures of 24 to 36 months," the newspaper quoted, one person as saying. If the deal materialises, Centrum is likely to put in 1 billion to 1.35 billion rupees for buying the assets, it said. The financial services firm has got commitment from two private equity players for 2.25 billion to 3.5 billion rupees, and the remainder is planned to be raised through loans from domestic banks, the paper said. A spokesperson for Citibank declined to comment on the report. Reuters could not immediately get comments from Mumbai-based Centrum Group. ($1=45.1 rupees) (Reporting by Neha Singh; Editing by Ranjit Gangadharan)
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