Lloyds Banking Group PLC (LYG) is considering the sale of
Menzies Hotels, one of the chains it inherited through its takeover
of failed bank HBOS, The Sunday Times reports, citing unnamed
sources.
A number of potential advisers have been consulted about the
15-strong chain, which could be worth up to 100 million pounds
($152.3 million), the newspaper says.
The banking group has an interest in several hotel operators but
is reducing its exposure to the industry, it says. Lloyds has
already sold other HBOS-related hotel assets, including the Mint
and Principal Hayley chains, it says.
Lloyds is also the main lender to De Vere Group, which last week
put its conference center arm on the market. The business is
expected to fetch up to GBP300 million, the newspaper reports,
without saying where it got its information.
Lloyds wasn't immediately unavailable for comment.
Newspaper website: http://www.timesonline.co.uk
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