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Lloyds (LYG +3.8%) continues its program of offloading non-core assets, confirming a report that...
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Wednesday, June 6, 2012, 9:47 AM ETLloyds (LYG +3.8%) continues its program of offloading non-core assets, confirming a report that it's agreed to sell £809M ($1.25B) of non-performing Australian real-estate loans to a Morgan Stanley (MS) and Blackstone (BX) JV for £388M. Lloyds, which lost £183M on the loans last year, will use the proceeds to repay its own debt.
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