Revealed: Lloyds Banking Group buy-out unit puts Private Equity International publisher on the block - sources
That didn't take long. Just two years after acquiring PEI Media - publisher of one of the journals read by many of the City's bankers, lawyers and buy-out barons - Lloyds Development Capital is weighing a sale of the business.
Sources have told Betaville LDC (a division of Lloyds Banking Group) has appointed advisers from Livingstone Partners to find a buyer for the company, whose publications include Private Equity International, Real Estate Capital and Infrastructure Investor.
Bankers estimate PEI Media might cost between £70 million and £90 million, so not a bad return for LDC after two years of ownership.
Still, Betaville always thought it tad odd that LDC bought the company in the first place...
LDC declined to comment when contacted by Betaville...