Bloomberg News

Lloyds Takes $24 Million Hit on EasyCar, Telegraph Says

April 15, 2012

Lloyds Banking Group Plc (LLOY) wrote off its almost 15 million-pound ($24 million) stake in U.K.’s EasyCar as part of a restructuring of the rental-car business, the Sunday Telegraph said.

Lloyds sold its remaining shares for a nominal sum, the newspaper said, without saying where it got the information. The company inherited the stake when it bought Halifax Bank of Scotland during the financial crisis. A Lloyds spokesman declined to comment to the Telegraph.

To contact the reporter on this story: Amy Thomson in London at

To contact the editor responsible for this story: Kenneth Wong at

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