Citi talks to sell OneMain unit ends without deal: report

(Reuters) - Citigroup Inc's (C.N) efforts to sell the bank's OneMain consumer lending unit to private equity buyers have ended without a deal in place, the Wall Street Journal said, citing people familiar with the matter.

The failure to reach a sale agreement reflects gyrations in the credit markets amid the European sovereign debt crisis and rising fears of a global economic slowdown, the WSJ said.

"The objective of Citi Holdings is to reduce noncore assets in an economically rational manner that is in the best interests of our stakeholders," a Citigroup spokeswoman said. She declined to comment to Journal on OneMain.

Citigroup has been trying to shed its OneMain consumer finance unit, previously named CitiFinancial, as part of its efforts to slim down after the financial crisis.

The bank received billions of dollars in U.S. government bailouts to survive the crisis. Since then, Citigroup has been trying to sell or wind down assets it considers not related to the bank's core banking functions.

Journal had earlier reported that a consortium consisting of Berkshire Hathaway Inc (BRKa.N), Leucadia National Corp (LUK.N) and private equity firm Centerbridge Capital Partners LLC was bidding for the OneMain unit.

Citigroup could not immediately be reached for comment by Reuters outside regular U.S. business hours.

(Reporting by Sakthi Prasad; Editing by Gary Hill)