TSB BANKING GROUP PLC / BANCO DE SABADELL SA / LLOYDS BANKING GROUP PLC / Public / Disposal / £1700m

Financials

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Transaction Value£1,700m

Consideration TypeCash

Capital Owned-

Capital Bid For100%

EV/Sales-

EV/EBITDA-

Share Price Premium-

One Off Charge-

target

Tsb Banking Group

bidder

Banco De Sabadell

vendor

Lloyds Banking Group

Sources

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Disposal

Public

Completed

Friendly

Single Bidder

Banks

retail banking

United Kingdom

Synopsis

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Banco de Sabadell SA Spanish financial services group providing universal banking services, including commercial, corporate, investment banking and insurance acquired TSB Banking Group plc UK provider of retail banking services from Lloyds Banking Group plc a UK holding company for retail banking group.The offer price is Stg3.4 per share valuing the company at Stg1.7bn ($2.56bn).