Citigroup could be soon finalizing the sale of its consumer banking operations in Central America with Bank of Spain, which could be paying $1.5 billion.

A report on Bloomberg.com noted that negotiations between the US bank and the Spanish bank are very advanced, and only the only thing left is to define the final value of the transaction, which could amount to $1.5 billion, according to unnamed sources cited by Bloomberg.

“… The agreement could include the buyer assuming some of the entity’s bank debts, according to a source who declined to be identified because the details of the negotiations are not public. The sale price will likely exceed the book value a little, the person said, adding that negotiations are not yet over and that could change. “

Source: Bloomberg.com