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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Lloyds Banking Group PLC    LLOY   GB0008706128

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Lloyds Banking Group PLC : Lloyds Banking Sells Operations in Uruguay for Undisclosed Sum

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09/07/2012 | 04:21pm CEST

LONDON--Lloyds Banking Group PLC (LLOY.LN), which is 41% owned by the U.K. Government, said Friday it is selling its Uruguayan retail, commercial and corporate banking operations, which currently operate as a branch of Lloyds TSB Bank PLC, to Banque Heritage (Uruguay) S.A. for an undisclosed sum.

MAIN FACTS:

-Total assets subject to the transaction total 261 million pounds as of Dec. 31, 2011.

-Group's representative office in Uruguay is not included within this transaction.

-Transaction is in line with the Group's strategy of reducing its international presence and the effect of the sale on the Group isn't expected to be material.

-Transaction is subject to a number of conditions, including regulatory approval, and is expected to complete in 2013.

-Shares at 1400 GMT up 1 pence, or 2.02%, at 37 pence valuing the company at GBP25.46 billion.

-Write to Ian Walker at [email protected]

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

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Financials ( GBP)
Sales 2017 17 762 M
EBIT 2017 8 520 M
Net income 2017 3 974 M
Debt 2017 -
Yield 2017 5,79%
P/E ratio 2017 11,49
P/E ratio 2018 10,56
Capi. / Sales 2017 2,59x
Capi. / Sales 2018 2,54x
Capitalization 45 999 M
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Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 0,73  GBP
Spread / Average Target 13%
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NameTitle
António Horta-Osório Group Chief Executive Officer & Executive Director
Norman Roy Blackwell Chairman
Karin Cook Director-Group Operations
George Mark Culmer Chief Financial Officer & Executive Director
Anthony Watson Senior Independent Non-Executive Director
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