Lloyds Banking Group today
announces that, having
received three formal offers for its EC mandated retail and
commercial business divestment
(Verde), it has decided to
take forward discussions with two bidders.
Tim Tookey Interim Group Chief Executive and Group Finance
Director said: "We are very pleased with the level of interest and
detail of the offers that have been made. We will now move quickly
in parallel talks with each bidder."
The Group will also continue to work on an Initial Public
Offering (IPO) as a potential alternative to a direct sale.
As previously announced, the Group is aiming to identify a
preferred option by the end of the year.