Lloyds TSB, the fifth-biggest bank in Britain, has agreed to sell its registrars business to buyout firm Advent International for €803.5m.
The cash deal to dispose of Lloyds TSB Registrars was expected to be completed in the second half of 2007 subject to regulatory approval, the bank said in a statement.
The sale would contribute £440 million to Lloyds TSB's full-year pre-tax profits for the current year, it added.
Lloyds TSB Registrars has more than 700 corporate clients, including just over half of the 100 companies which trade on London's prestigious FTSE 100 share index.
