Lloyds Banking Group PLC (LON: LLOY) may sell as much as 140 million GBP worth of retail assets, according to a report from the Mail on Sunday, citing anonymous sources.
The firm wrote that Legal & General Property may buy the assets, but says other parties have also have expressed interests and held talks over the assets sale. The firm’s “LXB Three” portfolio includes a number of buildings leased by retailers, including Tesco PLC (TSCO.LN) and J Sainsbury PLC (SBRY.LN), the newspaper says.
Lloyds Banking Group plc is a financial services group providing a range of banking and financial services, primarily in the United Kingdom, to personal and corporate customers. The Company operates in four segments: Retail, Wholesale, Wealth and International and Insurance. Its main business activities are retail, commercial and corporate banking, general insurance, and life, pensions and investment provision. It also operates an international banking business in over 30 countries. Services are offered through a number of brands including Lloyds TSB, Halifax, Bank of Scotland, Scottish Widows, Clerical Medical and Cheltenham & Gloucester. In February 2010, Computershare Limited acquired HBOS Employee Equity Solutions from the Company. In February, 2010, the Company sold its 70% stake in esure to a management buyout vehicle to be called esure Group Holdings Ltd. In March 2010, Capita Group Plc acquired Ramesys (Holdings) Ltd from Lloyds Banking Group plc’s Lloyds Bank.
Shares of Lloyds opened at $66.00 on Tuesday.
