Lloyds Banking Group is planning to sell a stake in St James’s Place, as part of its plans to dispose off assets owned by HBOS, Bloomberg reports, citing The Sunday Express. The bank may sell about 60% stake in the wealth manager, which is estimated to be worth about £1 billion. JPMorgan Chase and UBS are expected to manage the sale. St James’s Place might be sold in the open market or placed with a select group of buyers, adds Reuters.
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