Reuters - Former Standard Chartered Chief Eyeing Lloyds Stake
Former Standard Chartered chief executive Mervyn Davies is forming a consortium of sovereign wealth funds and financial institutions to buy as much as half of Britain's 20 billion pound ($29.77 billion) stake in Lloyds Banking Group, Sky News reported, writes Reuters. US private equity firm Corsair Capital, where Davies is a partner, will be part of the consortium but will not buy the stake on its own, Sky said, adding the deal will be structured to acquire the Lloyds stake close to the current share price, writes Reuters.
8 July 2013•2 mins read
