Lloyds winner may be known next week

Westpac, a Pepper-led group and Macquarie have bid for Lloyds remaining assets in Australia, worth over $8 billion.

Bidders for Lloyds Banking Group Plc’s Australian business expect they will receive news as soon as next week as to whether their offers for the assets worth some $8 billion to $10 billion have been successful.

Westpac Banking Corp is the front-runner for the Lloyds assets, a car leasing business and a loan book. Lloyds wants to ensure there are no legacy issues when it exits Australia while trying to get a significant premium for the business.

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