Published on 29th April 2012
Middle Eastern wealth funds including Qatar Holdings and Abu Dhabi’s Mubadala fund have held talks with Lloyds bank bidder, NBNK, to bolster its £2bn approach for the 632 branches Lloyds is struggling to sell. The backing of either or both funds – which have major investments in household business names such as Harrods and EMI respectively – would be a major boost to NBNK’s attempt to win approval from Lloyds’ board. Although it is too early for investment mandates to have been signed, it is known that senior NBNK directors have discussed their plans for Verde with the funds in the aim of bringing them on board as cornerstone investors as part of an eventual offer, The Telegraph reports.