Lloyds offloads companies bought in buying spree

Lloyds Banking Group today confirmed a deal to offload investments including cinema chain Vue and shirt maker TM Lewin - bought by HBOS in a buying spree prior to its collapse.

The part-nationalised bank said it was selling around 70% of the portfolio to a joint venture with private equity firm Coller Capital for £332m (€402m), valuing the assets at £480m (€581.3m) - a "small premium" to the current market price, according to Lloyds.