Anthony Hilton: Candid revelations from the Lloyds rescue of HBOS
The Independent Friday 8th June, 2012
On Wednesday Lloyds Banking group said it was selling a portfolio of Australian commercial property loans with a face value of 809m to a joint venture run by Morgan Stanley and Blackstone. However, this time, unusually, we were also told the selling price. It was 388m. Lloyds' candour stems probably from the fact these were HBOS loans inherited in the rescue of that bank a few years ago. But even so it beggars belief what the lender thought it wa...
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