(Reuters) - Goldman Sachs (N:GS) is in advanced talks with several financial companies to spin off 'Simon', its three-year-old app that sells financial products to retail investors, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
JPMorgan Chase (N:JPM), Barclays (L:BARC), HSBC Holdings (L:HSBA), Credit Suisse (S:CSGN), Wells Fargo (N:WFC) and insurer Prudential Financial (N:PRU) have expressed interest for a stake in the business, the report said.
The deal, which would value the app at around $100 million, is likely to be finalised in the coming weeks.
Goldman Sachs did not immediately respond to a request for comment.