The Co-operative Bank, which currently owns one bank branch and three outlets in Scotland, came forward in December 2011 to bid £ 750 million for part of a business owned by Lloyds Banking Group. It entered into a Memorandum of Understanding with “Lloyds Banking Group” to complete the purchase by November 2013.
On the 12th of March Lloyds Banking Group PLC informed that it has decided to sell 20 percent of its stake in the wealth management firm St. James Place PLC in order to uphold its capital reserves. The bank is expected to reap a profit of approximately £520 million from the stake sale.
Mouchel Group Plc. informed that it had agreed to restructure the company. The restructuring will give Mouchel’s lenders a majority interest in the infrastructure firm. In addition the company agreed to delist itself to avert an impending debt default. A consortium of banks, consists of Royal Bank of Scotland, Lloyds Banking Group and Barclays, will take control of Mouchel.