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Lloyds could strike Swip sale 'within weeks'
by Danielle Levy on Oct 03, 2013 at 07:45
Lloyds could be on course to complete the sale of its fund management arm Scottish Widows Investment Partnership (Swip) within a matter of weeks.
A deal could be reached by the end of October, as negotiations hot up, according to the Daily Mail.
Martin Gilbert's Aberdeen Asset Management is believed to be amongst the bidders, alongside Australian banking group Macquarie and French fund manager Natixis Global Asset Management. However, reports suggest that bidders are challenging the £400-£500 million price tag.
The sale of Swip has been mooted for some time, as Lloyds, led by Antonio Horta-Osorio (pictured) seeks to shore up its balance sheet and sell non-core divisions. It is understood that Deutsche Bank has been appointed to advise on the potential sale.
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by Danielle Levy on Dec 04, 2013 at 11:37