LONDON, May 27 (Reuters) - Lloyds Banking Group said on Tuesday it will float about 25 percent of its TSBbusiness on the London Stock Exchange, with the remainder soldbefore the end of 2015.
The bank is required to sell TSB because of a European Unionrequirement after Lloyds received state aid in the 2007-09financial crisis.
"TSB has a national network of branches, a strong balancesheet and significant economic protection against legacyissues," Lloyds Chief Executive Antonio Horta-Osorio said in astatement.
The offer is expected to take place in June, with thepublication of a prospectus mid-June. (Reporting by Huw Jones; Editing by David Goodman)