Sixth Street-led consortium in exclusive talks to buy Goldman's GreenSky-source

STORY CONTINUES BELOW THESE SALTWIRE VIDEOSBy Saeed Azhar, Greg Roumeliotis and Shubhendu Deshmukh

The consortium, which includes Pacific Investment Management and KKR & Co, prevailed over a rival bid from private equity firm Apollo Global Management Inc in an auction for GreenSky, the sources said. The amount would value GreenSky substantially lower than the $2.24 billion all-stock deal that Goldman inked to buy it in September 2021. The deal value had dropped to $1.7 billion by the time the acquisition was completed in March 2022 as Goldman's shares slid.

GreenSky's divestment is part of Goldman's broader retrenchment from its consumer business, which has lost $3 billion in the last three years. It also offloaded the bulk of its unsecured consumer loans, after halving this kind of lending last year.

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