Lloyds to offload Crest Nicholson stake to Varde
Lloyds Banking Group has agreed to sell its stake in housebuilder Crest Nicholson to US investment fund Varde.
The move is part of the British bailed-out bank's plan to shed its non-core assets to refocus on its core activities.
Lloyds holds approximately 25% of Crest’s debt and 30% of its equity, which according to The Financial Times would have a combined nominal value of about $232m.
Recently, Varde also acquired a small stake in Crest from Royal Bank of Scotland.
Lloyds' disposal of Crest Nicholson stake follows its sales of its private equity business to Coller Capital for £332m, and its Ecuadorian branch assets for $25m.
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Allianz SE - Financial and Strategic Analysis Review
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Allianz SE (Allianz) is one of the leading global financial services providers, offering a range of banking, asset management and insurance services. The company was formerly known as Allianz AG. Allianz is the parent company for the Allianz Group of companies. The company is one of leading insurance providers in the property and causality, and life insurance in the global market. Allianz is one of the major players in the German insurance market. The company, combined with its subsidiaries, serves over 75 million customers in more than 70 countries across Europe, Asia-Pacific, America and Africa. The company's banking operations are conducted through Dresdner Bank AG and its subsidiaries. Global Markets Direct’s Allianz SE - Financial and Strategic Analysis Review is an in-depth business, strategic and financial analysis of Allianz SE. The report provides a comprehensive insight into the company, including business structure and operations, executive biographies and key competitors. The hallmark of the report is the detailed strategic analysis of the company. This highlights its strengths and weaknesses and the opportunities and threats it faces going forward. Reports Buy online from $125
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