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Wednesday, August 15, 2012

Lloyds Sells Private-Equity Assets


LONDON—Lloyds Banking Group LLOY.LN +0.25% PLC said it agreed to sell private-equity-related investments worth £1.05 billion ($1.65 billion) to Coller International Partners as the U.K. bank continues to unload riskier assets after its 2008 bailout. Coller will pay £1.03 billion in cash for the portfolio in a deal that also includes around £220 million of undrawn commitments, or promises, made by Lloyds, to provide investment capital. A buyer such as Coller generally has to honor such commitments by the previous owner, if requested.  

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