Return to search

Paper: HBOS Sale Might Come This Week

LONDON (Reuters) – The remains of HBOS’s (HALp.L) investment portfolio could be sold this week with private equity group Coller Capital believed to be in pole position to buy what is left, reported the Sunday Times.

The report said HBOS Integrated Finance, HBOS’s collection of investments in companies such as Vue cinemas and coffee chain Caffe Nero, would fetch around 500 million pounds ($751.7 million). Lloyds Banking Group (LLOY.L) bought HBOS in 2008 at the height of the financial crisis.

At its peak the portfolio, part of HBOS’s corporate finance division, run by Peter Cummings, was estimated to be worth 1.4 billion pounds by analysts.

Coller Capital is the favourite to win the race to buy the portfolio but 3i (3IN.L) is watching developments closely, said the report.

Lloyds was not immediately available for comment when contacted by Reuters. (Reporting by Rhys Jones; Editing by Jon Loades-Carter) ($1=.6652 Pound)