LONDON--Lloyds Banking Group PLC (LYG) has agreed to sell a 380
million euro ($493 million) portfolio of Irish property loans to
CarVal, an investment wing of grain trader Cargill Inc., the Sunday
Times reports.
Without naming sources, the report said CarVal "is rumored" to
have paid 25 pence in the pound for the portfolio, which includes
suburban industrial estates, offices and hotels.
The loans were from HBOS, the bank which was rescued by Lloyds
during the height of the financial crisis in 2008.
Spokespersons for Lloyds and Cargill couldn't be immediately
reached for comment.
Newspaper website: www.thesundaytimes.co.uk
Write to Vladimir Guevarra at vladimir.guevarra@dowjones.com.
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