Lloyds to sell portfolio of European commercial real estate loans

24th Sep 2013 12:25

Lloyds Banking Group has agreed the sale of a portfolio of European commercial real estate loans as part of its non-core asset reduction strategy. The sale, which will be made for around £263m (€312m), is expected to complete by the year-end. The gross assets subject to the transaction are £371m, which in 2012 generated profits of £4m. The sale proceeds will be used for general corporate purposes, Lloyds said. NR

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