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- Daily brief -Thursday 26 November 2015
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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
- Valencia town votes against fiestas with bulls at local referendum
- Ministry had warned of suicide risk in cell where British tourist died
- Government not ruling out further counter-terrorism measures
- Spanish retailers cheer signs of Christmas recovery
- Spanish economic growth improved from Q3 in October
- Spain's trade deficit falls by 1.1% up to Sept
- Spainís road accident death toll already past 1,000 victims in 2015
- Three babies die of whooping cough in Spain within two months
- Guardia Civil divers and sniffer dogs search river for missing Scot
- Suspected Paris Attacks Organiser Recruited Spaniards Online