LONDON, Sept 24 (Reuters) - Lloyds Banking Group said on Tuesday it had agreed to sell a portfolio of Europeancommercial real estate loans to private equity group Cerberusfor 263 million pounds ($422 million).
The part-nationalised bank is selling off non-core assets inorder to bolster its capital position and to focus on lending toUK households and businesses.
Lloyds said the sale proceeds would be used for generalcorporate purposes. The transaction, which is expected tocomplete in the fourth quarter is capital accretive but is notexpected to have a material impact on the group, it said.
Lloyds (LLOY)
