Lloyds 'to sell Crest Nicholson stake'
11 April 2012
Lloyds Banking Group is to sell its stake in bank-owned housbuilder Crest Nicholson for £150 million, reports said today.
The bank's interest is to be bought by U.S. investment group Varde, the Financial Times said.
The FT said Lloyds was planning to make a writeback on its previous valuation of the stake but did not confirm the sale price.
