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Pin to quick picksLloyds Share News (LLOY)

Share Price Information for Lloyds (LLOY)

London Stock Exchange
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Share Price: 52.18
Bid: 52.26
Ask: 52.30
Change: 0.12 (0.23%)
Spread: 0.04 (0.077%)
Open: 52.38
High: 52.90
Low: 52.18
Prev. Close: 52.06
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Pepper Australia, ANZ, Westpac, Macquarie compete for Lloyd's assets-sources

Mon, 09th Sep 2013 08:59

SYDNEY, Sept 9 (Reuters) - Acquisitive non-bank lenderPepper Australia is vying to buy assets with a net book valueestimated at around A$1 billion ($919.45 million) from Britain'sLloyds Banking Group as it looks to sell down inAustralia, banking sources.

Also shortlisted in the deal are big banks Australia and NewZealand Banking Group, Westpac Banking Corp and investment bank Macquarie Group with final bids dueby the end of the month, the sources said, asking not to beidentified as the information is confidential.

The sale comes as Lloyds has been offloading non-core assetsthis year, including U.S. mortgage portfolio disposals andbranches from its retail banking network in Spain. The Britishlender is trimming its international footprint to reduce costsand bolster its balance sheet.

In Australia, Lloyds recently sold a A$371 million portfolioof loan assets from its unit BOS International Australia to BainCapital's Sankaty Advisors. Japan's Nomura also purchased loan assets with a face value of aroundA$150 million for an undisclosed sum, sources said.

Separately, Pepper Australia with equity fund CadenceCapital Ltd on Monday increased its bid for mortgageasset owner RHG Ltd. Pepper has been competing toacquire RHG against non-bank lender Resimac Limited.

ANZ, Westpac, Pepper Australia, Nomura, Macquarie and Lloydsdeclined to comment.

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