Lloyds set to raise A$1B+ from sale of Aussie units


Lloyds (LYG) has reportedly received offers for its asset-finance and commercial-lending units that value the businesses at over A$1B ($912M).

Suitors that made preliminary bids include National Australia Bank, Westpac Banking (WBK), ANZ Banking, Commonwealth Bank of Australia (CBAUY.OB) and Macquarie Group (MCQEF.PK). Lloyds will probably cut the shortlist to three by the end of the month.

The sale will continue Lloyds' strategy of streamlining its operations and help it plug a capital shortfall identified by U.K. regulators.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs