LONDON: The Lloyds Banking Group has sold a 1.6 billion pound ($2.50 billion) portfolio of Irish mortgages to a private equity group CarVal and Goldman Sachs.
Project Parasol the deal codenamed was finalised at purchase price of slightly less than half of the face value of the underlying assets, citing people familiar with the matter.
Further the portfolio consists of buy to let residential mortgages and commercial mortgages, including for offices, retail properties and industrial sites. Lloyds declined to comment. CarVal and Goldman Sachs were not immediately available for comment.
