Blueprint
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
12
October 2017
LLOYDS BANKING GROUP
plc
(Translation of registrant's name into
English)
5th Floor
25 Gresham Street
London
EC2V 7HN
United Kingdom
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual
reports
under
cover Form 20-F or Form 40-F.
Form
20-F..X.. Form 40-F
Indicate
by check mark whether the registrant by furnishing the
information
contained
in this Form is also thereby furnishing the information to
the
Commission
pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes
No ..X..
If
"Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-
_______
Index
to Exhibits
Item
No.1
Regulatory News
Service Announcement, dated 12 October 2017
re: Acquisition
of Zurich pensions & savings business
12
October 2017
LLOYDS BANKING GROUP TO ACQUIRE ZURICH'S UK WORKPLACE PENSIONS AND
SAVINGS BUSINESS
Lloyds
Banking Group (the Group) today announces it has entered into an
agreement with Zurich to acquire its UK workplace pensions and
savings business with assets under administration of
£19 billion.
The
transaction enhances Scottish Widows' current offering and broadens
its participation in the financial planning and retirement segment
whilst delivering a modern, flexible workplace savings platform.
Scottish Widows already manages more than £124 billion of
funds of which £35 billion is workplace pensions
business.
The
transaction is in line with the Group's targeted growth strategy
and accelerates the development of its financial planning and
retirement business.
The
acquisition is expected to partially close in the first quarter of
2018, with subsequent completion and transfer of assets following
the required regulatory and legal approvals.
Antonio
Lorenzo, Director, Insurance & Wealth and Chief Executive,
Scottish Widows said: "Today's announcement is a clear signal of
Lloyds Banking Group's commitment to the financial planning and
retirement segment. The acquisition of Zurich's UK workplace
pensions and savings business complements Scottish Widows' growth
to date and provides us with an ideal opportunity to accelerate our
goal to become a market leader in this important sector, for
advisers and customers."
- END
-
For
further information:
Investor Relations
Douglas
Radcliffe
+44 (0) 20 7356 1571
Group
Investor Relations Director
douglas.radcliffe@finance.lloydsbanking.com
Corporate Affairs
Fiona
Laffan
+44 (0) 20 7356 2081
Group
Corporate Communications Director
fiona.laffan@lloydsbanking.com
FORWARD LOOKING STATEMENTS
This
document contains certain forward looking statements with respect
to the business, strategy and plans of Lloyds Banking Group and its
current goals and expectations relating to its future financial
condition and performance. Statements that are not historical
facts, including statements about Lloyds Banking Group's or its
directors' and/or management's beliefs and expectations, are
forward looking statements. By their nature, forward looking
statements involve risk and uncertainty because they relate to
events and depend upon circumstances that will or may occur in the
future. Factors that could cause actual business, strategy, plans
and/or results (including but not limited to the payment of
dividends) to differ materially from the plans, objectives,
expectations, estimates and intentions expressed in such forward
looking statements made by the Group or on its behalf include, but
are not limited to: general economic and business conditions in the
UK and internationally; market related trends and developments;
fluctuations in interest rates (including low or negative rates),
exchange rates, stock markets and currencies; the ability to access
sufficient sources of capital, liquidity and funding when required;
changes to the Group's credit ratings; the ability to derive cost
savings and other benefits including, but without limitation as a
result of any acquisitions, disposals and other strategic
transactions; changing customer behaviour including consumer
spending, saving and borrowing habits; changes to borrower or
counterparty credit quality; instability in the global financial
markets, including Eurozone instability, instability as a result of
the exit by the UK from the European Union (EU) and the potential
for other countries to exit the EU or the Eurozone and the
impact of any sovereign credit rating downgrade or other sovereign
financial issues; technological changes and risks to the security
of IT and operational infrastructure, systems, data and information
resulting from increased threat of cyber and other
attacks; natural, pandemic and other disasters, adverse weather and
similar contingencies outside the Group's control; inadequate or
failed internal or external processes or systems; acts of war,
other acts of hostility, terrorist acts and responses to those
acts, geopolitical, pandemic or other such events; changes in laws,
regulations, accounting standards or taxation, including as a
result of the exit by the UK from the EU, or a further possible
referendum on Scottish independence; changes to regulatory capital
or liquidity requirements and similar contingencies outside the
Group's control; the policies, decisions and actions of
governmental or regulatory authorities or courts in the UK, the EU,
the US or elsewhere including the implementation and interpretation
of key legislation and regulation; the ability to attract and
retain senior management and other employees; actions or omissions
by the Group's directors, management or employees including
industrial action; changes to the Group's post-retirement defined
benefit scheme obligations; the extent of any future impairment
charges or write-downs caused by, but not limited to, depressed
asset valuations, market disruptions and illiquid markets; the
value and effectiveness of any credit protection purchased by the
Group; the inability to hedge certain risks economically; the
adequacy of loss reserves; the actions of competitors, including
non-bank financial services, lending companies and digital
innovators and disruptive technologies; and exposure to regulatory
or competition scrutiny, legal, regulatory or competition
proceedings, investigations or complaints. Please refer to the
latest Annual Report on Form 20-F filed with the US Securities and
Exchange Commission for a discussion of certain factors together
with examples of forward looking statements. Except as required by
any applicable law or regulation, the forward looking statements
contained in this document are made as of today's date, and Lloyds
Banking Group expressly disclaims any obligation or undertaking to
release publicly any updates or revisions to any forward looking
statements. The information, statements and opinions contained in
this document do not constitute a public offer under any applicable
law or an offer to sell any securities or financial instruments or
any advice or recommendation with respect to such securities or
financial instruments.
Signatures
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
LLOYDS
BANKING GROUP plc
(Registrant)
By: Douglas
Radcliffe
Name: Douglas
Radcliffe
Title: Group
Investor Relations Director
Date:
12 October 2017