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Lloyds’s Private Equity Unit Plans Management Buyout, Mail Says

Nov. 28 (Bloomberg) -- Lloyds Banking Group Plc’s private equity unit is planning a management buyout, the Mail on Sunday reported, citing an unidentified person.

Lloyds Development Capital Chief Executive Officer Darryl Eales may be working on proposals and talking to advisers, the newspaper said. The bank has said the unit is not for sale and no offer has been tabled, according to the newspaper.

Both Lloyds and LDC declined to comment, the newspaper said.

To contact the reporter on this story: Jonathan Browning in London jbrowning9@bloomberg.net.

To contact the editor responsible for this story: Vidya Root at vroot@bloomberg.net.

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