Lloyds sells £2.6bn of Irish loans
Lloyds Banking Group has agreed the sale of a portfolio of Irish commercial loans to a consortium including Goldman Sachs and Bank of Ireland for a cash consideration of around £827m.
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The gross assets subject to the transaction are around £2.6bn, of which £2.3bn were impaired.
The sale proceeds will be used for general corporate purposes and the transaction is not expected to have a material impact on the group but will be capital accretive, the company said.
The deal is expected to complete in the fourth quarter of 2015.