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14 Dec 2011 16:31
NBNK Investments Plc
('NBNK' or the 'Company')
Lloyds Banking Group divestment
Following its participation in Lloyds Banking Group's ("Lloyds") process for the sale of the "Project Verde" asset package, the Company confirms that it has now ceased negotiations with Lloyds.
The Company is disappointed at the outcome given that NBNK tabled a compelling financial package and comprehensive execution plan for Verde. More broadly the Company regrets that it was not given the opportunity to create a break with the past, delivering to the high street a well-capitalised, new challenger bank and brand devoted to providing the level of service that UK banking customers deserve.
NBNK will now consult with its investors and further announcements will be made as appropriate.
- Ends -
For further information contact:
Pelham Bell Pottinger James Henderson Olly Scott
| +44 20 7861 3232
|
Cenkos Securities plc (Nominated adviser and broker) Ian Soanes Ivonne Cantu
| +44 20 7397 8900
|
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