Citi readies massive sell-off of non-core assets

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Citigroup Inc is expected to announce plans to sell roughly $400 billion in non-core assets when new CEO Vikram Pandit meets with investors and analysts later on Friday, people familiar with the situation said.

Below are assets and businesses that Citi is selling, has sold, or is believed to be considering selling.

* Citi is mulling the sale of its German retail business, which focuses on consumer finance, saidin April.

* Citi is talks to sell a private equity unit in Japan, Nikko antfactory, sources said in April.

* Citi was in the process of auctioning the merchant banking arms of its Japanese unit in London and Australia, sources said in January.

* Citi has closed its Smith Barney brokerage operation in Taiwan.

* Citi was in talks to sell its Australian retail brokerage business to National Australia Bank Ltd, according to an unconfirmed media report.

* Citi, including Pandit himself, has repeatedly denied rumours in local media that it plans to sell its operations in South Korea.

* Primerica, a consumer sales network for life insurance and investments, is regarded as a sale candidate by observers.

* Citi's retail banking network in the United Kingdom and its consumer finance units in Japan and Mexico are seen by company watchers as candidates for sale.

* Citi agreed last month to sell its Diners Club International card business to Discover Financial Services for $165 million.

* Citi sold its CitiStreet retirement plan administrator, a joint venture with State Street, to ING Groep NV for 578 million euros ($895 million).