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Lloyds Plans 600 Branches Sale
Lloyds Banking Group is planning to launch an auction for 600 of its branches.
Lloyds Banking Group is planning to launch an auction for 600 of its branches, Scotsman reports. The U.K. financial group, which has until the end of 2013 to sell the branches, is likely to appoint Credit Suisse and Rothschild to lead the sale.
The London-based firm is also in discussions with lenders to raise a £20 billion loan to speed up the sale, adds Herald Scotland. The sale, known as Project Verde, includes the 185-branch Lloyds TSB Scotland chain and the Intelligent Finance unit.
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