LONDON--Lloyds Banking Group PLC (LLOY.LN), which is 40% owned
by the U.K. Government, said Tuesday 101.7 million St. James's
Place PLC (STJ.LN) shares have been placed at 510 pence per share,
raising 520 million pounds.
MAIN FACTS:
-On completion, Lloyds will hold 185.55 million St James's Place
shares, or 37%, and will continue to have representation on the
Company's board.
-Lloyds has agreed with BofA Merrill Lynch that, for 365 days
following completion of the placing, it won't make any further
disposals from its remaining holding in St James's Place.
-Lloyds shares closed Monday at 50 pence valuing the bank at
GBP35.17 billion; St. James's Place shares closed at 537 pence
valuing the company at GBP2.73 billion.
-Write to Ian Walker at ian.walker@dowjones.com
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