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Home arrow Articles by Topic arrow LandCo arrow UK banking buyout raises questions about $3b in NZ
UK banking buyout raises questions about $3b in NZ PDF Print
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Articles - LandCo
Written by Tamsyn Parker, The New Zealand Herald   
Friday, 19 September 2008

The future ownership of $3 billion-worth of loans made to New Zealand businesses is up in the air after confirmation emerged yesterday that British Bank Lloyds TSB is buying HBOS - the parent of Halifax and the Bank of Scotland - in a 12 billion ($32.82 billion) bailout.

Late last night NZ time as the British markets opened HBOS was expected to officially announce the buyout which British media said had been brokered with the help of its Government.

But the move has fuelled questions over what might happen to HBOS' Australasian operations, which include loans of around $3 billion by its subsidiary BOS International in New Zealand.

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