Barclays Plc is preparing the sale of its consumer-finance business in Germany and has held preliminary talks with potential buyers, according to people familiar with the matter.
The British bank may seek about 500 million euros ($557 million) for the unit, formerly known as Barclaycard Germany, the people said, asking not to be named as the discussions aren’t public. The division, based in Hamburg, houses 700 employees and could attract interest from other banks and private equity funds that own a bank, they said.
Read More : Barclays Said to be Considering Selling Its German Consumer Finance Business