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Lloyds Banking Group PLC Announces Sale Of Heidelberger Leben


Wednesday, 21 Aug 2013 02:00am EDT 

Lloyds Banking Group PLC announced that it has signed an agreement to sell its German life insurance business Heidelberger Lebensversicherung AG (Heidelberger Leben or the business) to a joint venture company owned by Cinven Partners LLP and Hannover Rück SE, for a cash consideration of around EUR300 million, or approximately GBP250 million at current exchange rates. The transaction is subject to regulatory approval and is expected to complete in early 2014. 

Company Quote

85.0
0.85 +1.01%
5:02am EDT