The talks centre on increasing the level of support for NBNK’s new tilt at the branches, known within Lloyds as Project Verde.
The backing of either or both funds – which have major investments in household business names such as Harrods and EMI respectively – would be a major boost to NBNK’s attempt to win approval from Lloyds’ board.
Although it is too early for investment mandates to have been signed, it is known that senior NBNK directors have discussed their plans for Verde with the funds in the aim of bringing them on board as cornerstone investors as part of an eventual offer.
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