Lloyds placing 20 percent stake in St James's Place
LONDON, March 11
LONDON, March 11 (Reuters) - Lloyds Banking Group said on Monday it would sell around a 20 percent stake in British investment manager St James's Place via a placing to institutional investors.
The sale of at least 102 million shares, being run by Bank of America Merrill Lynch, would be worth just under 550 million pounds ($820 million) at St James's Place current share price of 536.5 pence.
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