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Lloyds, L&G Property in real estate JV talks
The real estate arm of Legal & General is in talks to cherry-pick troubled assets from Lloyds Banking Group Plc in deals that could generate millions of pounds for the lender, sources close to discussions told Reuters.
Legal & General Property is mulling potential joint ventures and acquisitions of some of Lloyd's moderately distressed realestate assets, as cash continues to roll into its open-ended funds, the sources said.
Bill Hughes, Legal & General's property head, declined to confirm the talks with Lloyds, but said his team was talking to several banking organisations with a view to helping them lighten their property burdens.
Latest News & Stories
- Spanish Airports to see 25 days of strike action
- Islamisation "Stronger in Spain than Germany"
- Spanish court charges 10 priests with child sexual abuse
- Albanian named in helicopter crash in Spain suspected of smuggling drugs
- Caja Madrid officials who used “black” cards targeted in investigation
- British Expats Set To Lose Retirement Benefits
- Spain kicks off AENA share sale
- Spain arrests suspected militant cell in north Africa
- Murcia's San Javier Airport "to close within 6 months of Corvera opening"
- New Survey: The Future Looks Bright for Expat Workers