Advent Nears Registrars Deal

Advent International is close to securing shareholder services provider Lloyds TSB Registrars. The UK bank said earlier this year that it wanted to divest its non-core businesses.

According to a report Advent has won the battle, offering Gbp550 million (US$1.1bn). Lehman Brothers advised the bank on the sale.

Australian company Link Market Services was also interested in the business but withdrew from the auction last month.

Link Market Services is owned by Pacific Equity Partners and was bidding in tandem with Bain Capital. Another private equity group Silverlake was also interested.

Computershare and Capita Registrars are Lloyds TSB Registrars' main UK competitors.