The Financial Times reported on November 14, 2010 that Lloyds Banking Group has outlined plans to spin off its private-equity arm, Lloyds TSB Development Capital.
On November 14, 2010, the Financial Times reported that Lloyds Banking Group Plc has outlined plans to spin off its buy-out investor, Lloyds TSB Development Capital, amid pressure from regulators to separate the bank’s state-guaranteed retail and commercial banking operations from its more risky private equity and hedge fund activities. Lloyds has denied that there are any plans to sell LDC. LDC is expected to start raising capital from third-party investors by 2013, with the goal of having the private-equity arm independent within 5 years.
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