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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Government attracts rival bids to buy Lloyds stake

Posted on 09 July 2013

Singapore’s sovereign wealth fund has emerged as a potential candidate in the race to buy part of the UK government’s stake in Lloyds Banking Group. Temasek, which has a portfolio value of about £113 billion, owns 18 per cent of Asia-focused rival Standard Chartered and is understood to be considering a £4.5bn bid for about 10 per cent of Lloyds.
Lloyds is 39 per cent owned by the taxpayer and UK Financial Investments, which manages the government’s holding, has invited investment banks to set out how they would handle the sale of the stake. Interested parties have until today to submit their full proposals………………………………………..Full Article: Source


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