Friday 23 February 2018

Lloyds sells loan portfolio to Cerebrus

Lloyds is 33pc owned by the taxpayer
Lloyds is 33pc owned by the taxpayer

Lloyds Banking Group said today it had agreed to sell a portfolio of British corporate real estate loans to an entity affiliated with Cerberus European Investments for £90m pounds in cash.

The sale, part of the group's push to dispose of non-core assets, is expected to complete by the end of 2013. The gross assets subject to the transaction were £147m, the bank said.

The proceeds will be used for general corporate purposes. The sale is not expected to have a material impact on the group.

Reuters

Promoted Links

Business Newsletter

Read the leading stories from the world of Business.

Promoted Links

Also in Business