Lloyds to Sell Irish Commercial Loan Portfolio for GBP827 Million
30 July 2015 - 5:18PM
Dow Jones News
By Ian Walker
LONDON--Lloyds Banking Group PLC (LLOY.LN) said Thursday it is
selling a portfolio of Irish commercial loans for 827 million
pounds ($1.29 billion), which will be used for general corporate
purposes.
The 15% U.K. government-owned bank said the sale won't have a
material impact on the group, but will be capital accretive.
Lloyds is selling the portfolio, which has gross assets of about
GBP2.6 billion, to a consortium comprising Ennis Property Finance
Ltd., an entity affiliated to Goldman Sachs Group Inc (GS); Feniton
Property Finance Ltd., an entity affiliated to CarVal; and Bank of
Ireland.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
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