RPT-Pepper Australia, ANZ, Westpac, Macquarie compete for Lloyd's assets-sources
SYDNEY, Sept 9 (Reuters) - Acquisitive non-bank lender Pepper Australia is vying to buy assets with a net book value estimated at around A$1 billion ($919.45 million) from Britain's Lloyds Banking Group as it looks to sell down in Australia, banking sources.
Also shortlisted in the deal are big banks Australia and New Zealand Banking Group, Westpac Banking Corp and investment bank Macquarie Group with final bids due by the end of the month, the sources said, asking not to be identified as the information is confidential.
The sale comes as Lloyds has been offloading non-core assets this year, including U.S. mortgage portfolio disposals and branches from its retail banking network in Spain. The British lender is trimming its international footprint to reduce costs and bolster its balance sheet.
In Australia, Lloyds recently sold a A$371 million portfolio of loan assets from its unit BOS International Australia to Bain Capital's Sankaty Advisors. Japan's Nomura also purchased loan assets with a face value of around A$150 million for an undisclosed sum, sources said.
Separately, Pepper Australia with equity fund Cadence Capital Ltd on Monday increased its bid for mortgage asset owner RHG Ltd. Pepper has been competing to acquire RHG against non-bank lender Resimac Limited.
ANZ, Westpac, Pepper Australia, Nomura, Macquarie and Lloyds declined to comment.
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