Lloyds In Merger
Lloyds Bank has announced that its wholly owned subsidiary, Lloyds Bank Europe, is to merge with the Bank of London and South America. In a joint statement the banks said that subject to further discussions, the merger would be effected by the Bank of London and South America (8.0.L.5.A.) acquiring the whole of the issued share capital of Lloyds Bank Europe in exchange for shares in 8.0.L.5.A. As a result of this shares switch, Lloyds, which already owns 25 per cent of 8.0.L.5.A., will then own just over 50 per cent. There would continue to be substantial public participation, the statement added.
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Bibliographic details
Press, Volume CX, Issue 32392, 3 September 1970, Page 14
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105Lloyds In Merger Press, Volume CX, Issue 32392, 3 September 1970, Page 14
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