Barclays Hired by U.K. to Manage Remaining Lloyds Stake Sale
- British lender won role to handle $5.8 billion stake sale
- Chancellor George Osborne postponed retail offer last week
This article is for subscribers only.
Barclays Plc, Britain’s second-largest bank, has been hired to manage the eventual sale of the U.K. government’s remaining 4 billion-pound ($5.8 billion) stake in Lloyds Banking Group Plc.
Barclays won the role before Chancellor of the Exchequer George Osborne postponed the divestment last week, according to a filing on a government website. While Goldman Sachs Group Inc. is the U.K.’s privatization strategy adviser, Barclays is the only bank formally appointed to oversee the share sale, said two people with knowledge of the matter, who asked not to be identified because the matter is private.