Lloyds sell £1bn of assets

Taxpayer-backed Lloyds Banking Group has sold more than £1bn (€1.27bn) of investments it inherited from its disastrous takeover of HBoS as part of its drive to return its balance sheet to health.

It has agreed to sell a portfolio of 71 private equity related assets to a fund overseen by Coller Capital, an investor that specialises in such deals.