Friday, October 16, 2009
Lloyds to Sell Halifax Estate Agents for Â£10m
LSL Property Services â€“ the leading UK estate and surveying agency â€“ recently announced that it has started negotiations with the Lloyds Banking Group, which are associated with a possible acquisition of Halifax Estate Agents. Halifax Estate Agents is British 5th largest network of estate agencies, which consists of 218 offices. Yet, according to the speculations, the Lloyds Banking Group, plans to sell the business chain because it, being non-core to Lloydsâ€™ operations, distracts the company from its major activity. Moreover, Halifax Estate Agents was hit hard by the economic downturn in the past 2 years and is not expected to expand further.