Lloyds (LYG +3.8%) continues its program of offloading non-core assets, confirming a report that...

|About: Lloyds Banking Group plc (LYG)|By:, SA News Editor

Lloyds (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.