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Lloyds in talks with private equity over unit

Lloyds Banking Group is in talks with private equity firms interested in buying a controlling stake in its Integrated Finance unit, according to the Mail on Sunday.

Lloyds has been widely expected to sell off the troubled unit, headed by Peter Cummings and which was part of HBOS (now part of Lloyds), but a drop of values has made a deal more difficult.

The assets of the division, which has stakes in cinema chain Vue and housebuilder Keepmoat, are thought to be worth about 500 million pounds ($785.8 million), said the paper.

Lloyds, which declined to comment on the report, is in talks with 3i, Advent International and Coller Capital on Integrated Finance, the paper said. (Reuters)