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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
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- Spain's employers organizations ask for more flexibility in labor market
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- Barcelona and Madridís new mayors are best-rated politicians in their cities
- Sabotage could be behind four-hour suspension of high-speed rail service
- Spain's industrial production rises by 5% in August
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