Deals
U.K. Treasury Raises 4.2 Billion Pounds in Lloyds Share Sale
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The U.K. government sold a 4.2 billion-pound ($6.95 billion) stake in Lloyds Banking Group Plc, its second disposal since rescuing the lender in the financial crisis.
The government sold the shares to money managers for 75.5 pence apiece, 4.6 percent less than yesterday’s closing price, U.K. Financial Investments Ltd., which oversees the government’s stake in the bank, said in a statement today. The sale cuts the U.K.’s stake in Lloyds to less than 25 percent from 33 percent.