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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
- British expats in Europe living in fear of Brexit
- Bank of Spain sees rise in downside growth risks in last few months
- Unemployment drops in April as holiday season underway
- Expat Fraudster 'too pregnant' to face UK Court
- Spain issues warrants for Russian officials alleged to be linked to crime gang
- Brussels lowers Spainís public deficit forecast
- Spain new car sales rise 21.2 pct y/y in April
- Spanish Journos facing jail over Police leaks
- King Felipe to call further election on Tuesday
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