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Leasing firm Lex in possible MBO

The management of Lex, the UK’s biggest car leasing firm, has approached private equity firms to fund a multi-billion pound buy-out of the business, reported Daily Telegraph.

The move would help streamline owner Lloyds Banking Group’s balance sheet.

The merger of Lloyds TSB and HBOS earlier this month to create Lloyds Banking group, brought together Lloyds’ Autolease arm with 129.000 vehicles and Lex, owned by HBOS with 251,000 vehicles.

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