Bloomberg News

Co-Operative May Sell Cash-Handling Unit for Lloyds, Times Says

March 25, 2012

Co-Operative Group Ltd. wants to sell its cash-handling unit to raise funds to support its bid for 600 bank branches being sold by Lloyds Banking Group Plc (LLOY), the Sunday Times reported.

The Sunwin Services unit may fetch as much as 40 million pounds ($63 million), the newspaper said, citing unspecified analysts. Co-Operative has appointed Buckingham Corporate Finance as its adviser, according to the report.

To contact the reporter on this story: Mathew Carr in London at m.carr@bloomberg.net

To contact the editor responsible for this story: Lars Paulsson at lpaulsson@bloomberg.net


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