The group has announced the acquisition of MBNA, BofA’s UK credit business, for a £1.9bn cash consideration. The deal, which would increase LBG’s segment market share by 11ppt to a large 25%, still needs regulatory approval. If so, it is expected to be completed by the end of H1 17. On top of the obvious strategic rationale, the transaction has strong financial appeal.
20 Dec 2016
MBNA acquisition
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MBNA acquisition
Lloyds Banking Group plc (LLOY:LON) | 50.9 0 (-0.2%) | Mkt Cap: 32,239m
- Published:
20 Dec 2016 -
Author:
David Grinsztajn -
Pages:
2
The group has announced the acquisition of MBNA, BofA’s UK credit business, for a £1.9bn cash consideration. The deal, which would increase LBG’s segment market share by 11ppt to a large 25%, still needs regulatory approval. If so, it is expected to be completed by the end of H1 17. On top of the obvious strategic rationale, the transaction has strong financial appeal.