NEW YORK - ITT Corp. said it has completed the previously announced sale of ITT Consumer Financial Corp.'s domestic unsecured consumer loan portfolio to an investor group led by an affiliate of Goldman Sachs & Co.

According to terms of the sale, ITT received about $1.7 billion in cash, including loan payments collected since Feb. 28 totaling $392 million. ITT contributed approximately $29 million for a 15% equity stake in the new group.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.