LONDON, July 17 (Reuters) - UK insurer Legal & General said on Thursday that it plans to start lending directto businesses across Europe.
The company said it had taken a 40 percent equity stake inPemberton Asset Management, which is launching a new directlending platform to provide loans and private placements tomid-market companies.
The service will be open to companies with a turnover ofbetween 100 million euros and 1 billion euros and Legal &General said it would invest an initial 250 million euros butintends to make further "significant commitments". (Reporting by Simon Jessop; editing by Steve Slater)