National Business Wire (Jan 11) -- Citadel Securities LLC, a market maker founded by billionaire hedge fund manager Ken Griffin, is the only global financial firm bidding for Credit Suisse's China business, according to Bloomberg.

Thursday's report said Citadel Securities made a non-binding offer of 1.5 billion yuan ($209 million) to 2 billion yuan late last month for the Swiss bank's securities venture in China.

Credit Suisse, which is now part of UBS Group AG, has been seeking about 2 billion yuan for the entire China unit, the report noted.

U.S. private equity giant Warburg Pincus LLC had also considered buying Credit Suisse's China business, but shelved its plans because it failed to meet the set floor price, the sources said.

More than a half-dozen potential buyers have expressed interest through due diligence, and at least one Chinese company has also made an offer, one of the people familiar with the matter said.

Credit Suisse disbanded its wealth management team in China late last year after UBS refused to take it on.