Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Economy
In reply to the discussion: STOCK MARKET WATCH -- Monday, 19 August 2013 [View all]xchrom
(108,903 posts)10. Lloyds readies sale of German insurer - source
http://uk.reuters.com/article/2013/08/19/uk-lloyds-insurance-idUKBRE97I0DE20130819
(Reuters) - Lloyds Banking Group is readying a sale of its German life insurance business, a source with knowledge of the matter said, as the British state-backed bank exits overseas markets to focus on lending at home.
Lloyds could raise around 400 million euros ($533 million)from the sale of Heidelberger Leben, the source said, with German reinsurer Hannover Re tipped as the most likely buyer.
The government is preparing to start selling its 39 percent stake in Lloyds, acquired as part of a bailout during the 2008 financial crisis, after the shares surged above its breakeven price of 61 pence.
Lloyds' German insurance sale, which the source said could be announced as early as this week, follows the disposals of its $5 billion U.S. mortgage book, Spanish retail banking operations and international private banking business.
(Reuters) - Lloyds Banking Group is readying a sale of its German life insurance business, a source with knowledge of the matter said, as the British state-backed bank exits overseas markets to focus on lending at home.
Lloyds could raise around 400 million euros ($533 million)from the sale of Heidelberger Leben, the source said, with German reinsurer Hannover Re tipped as the most likely buyer.
The government is preparing to start selling its 39 percent stake in Lloyds, acquired as part of a bailout during the 2008 financial crisis, after the shares surged above its breakeven price of 61 pence.
Lloyds' German insurance sale, which the source said could be announced as early as this week, follows the disposals of its $5 billion U.S. mortgage book, Spanish retail banking operations and international private banking business.
Edit history
Please sign in to view edit histories.
51 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations
JPMorgan & GS Are Playing Whack-A-Mole With Everyone Suing Over Metal Warehousing Businesses
Demeter
Aug 2013
#2
And too much to lose unless there's clear paths and rules that prevent exactly what's going on
Demeter
Aug 2013
#41
Check Out How Much The Average American Works Each Year Compared To The French, The Germans, And The
xchrom
Aug 2013
#19
{your propaganda moment}Seriously? JP Morgan Is Being Investigated For Hiring Well-Connected People?
xchrom
Aug 2013
#21
Bond Markets Are Freaking Out That Larry Summers Will Raise Rates Faster Than Janet Yellen
xchrom
Aug 2013
#30