Lloyds selects Lone Star as preferred bidder

Lone Star, a US private equity group, has been named as the exclusive bidder for £900m-worth of distressed property loans currently owned by Lloyds Banking Group, according to the Financial Times.

Lone Star, a US private equity group, has been named as the exclusive bidder for £900m-worth of distressed property loans currently owned by Lloyds Banking Group, according to the Financial Times.

The property loans, known as the Project Royal portfolio, is the biggest disposal of loans by a UK bank since the 2008 recession.

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