Mon, 16th Sep 2013 16:04
LONDON, Sept 16 (Reuters) - Britain will sell about 6percent of part-nationalised Lloyds Banking Group,worth about 3.3 billion pounds, via a placing to institutionalinvestors, UK Financial Investments (UKFI) said on Monday.
UKFI, which manages the government's stakes in Lloyds andRoyal Bank of Scotland, said it had agreed not to sellany more shares in the bank for a period of 90 days.
The sale will reduce the size of the government's stake inLloyds to 32.7 percent.
(Clarifying the acquisition is in cash.)
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Lloyds (LLOY)