Investment firm NBNK confirms Lloyds branches bid

A takeover vehicle run by former Northern Rock boss Gary Hoffman today confirmed a bid for 632 branches being sold by Lloyds Banking Group.

Investment firm NBNK confirms Lloyds branches bid
Thu, 29 Sep, 2011 - 09:38

A takeover vehicle run by former Northern Rock boss Gary Hoffman today confirmed a bid for 632 branches being sold by Lloyds Banking Group.

NBNK Investments, which was co-founded by Lord Levene, chairman of insurer Lloyd’s of London, has reportedly offered £1.5bn for the estate, which is up for sale in order for Lloyds to meet European competition rules.

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CourtsBusinessHeathrowPlace: Northern RockPlace: LondonPlace: YorkshirePlace: ClydesdalePlace: UKPerson: Gary HoffmanPerson: Lord LeveneOrganisation: NBNKOrganisation: LloydsOrganisation: Lloyds Banking GroupOrganisation: NBNK InvestmentsOrganisation: Lloyd’s ofOrganisation: Sun CapitalOrganisation: Co-operative Banking GroupOrganisation: National Australia BankOrganisation: BBCOrganisation: Verde
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