{"id":346149,"date":"2011-03-28T18:45:27","date_gmt":"2011-03-28T18:45:27","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/03\/28\/bank-denies-gers-blockage\/"},"modified":"2011-03-28T18:45:27","modified_gmt":"2011-03-28T18:45:27","slug":"bank-denies-gers-blockage","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/03\/28\/bank-denies-gers-blockage\/","title":{"rendered":"Bank denies Gers blockage"},"content":{"rendered":"
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Lloyds insist they are not seeing ‘exit fee’ in takeover deal<\/h3>\n

\n\t\t\t\t\t Last updated: 28th March 2011\u00a0\u00a0 \"Subscribe<\/a> <\/p>\n<\/p><\/div>\n

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Lloyds deny ‘exit fee’<\/p>\n

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Related links<\/h3>\n

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Also see<\/h4>\n<\/p><\/div>\n

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Lloyds Banking Group has denied their insistence on an ‘exit fee’ is curtailing Craig Whyte’s protracted Rangers takeover.\n<\/p>\n

The Scottish tycoon is keen to take over take over 75 per cent of Sir David Murray’s shareholding, with London-based property developer Andrew Ellis becoming a 25 per cent partner in a \u00a333million deal.<\/p>\n

The deal had been expected to be finalised by now, although it has been claimed that Lloyds’ desire for an ‘exit payment’ of more than \u00a31m was one of the key stumbling blocks.<\/p>\n

The bank has issued a swift response stating the claims are ‘baseless and without foundation’ while they also recognise the importance of a potential takeover going forward.<\/p>\n

Baseless<\/h4>\n

“Any potential takeover is a matter for Rangers Football Club and its shareholders,” read a Lloyds statement.<\/p>\n

“Suggestions that Lloyds Banking Group is blocking a deal to acquire the club are baseless and without foundation.<\/p>\n

“We understand the concerns of Rangers’ supporters, given recent media speculation.<\/p>\n

“Lloyds Banking Group recognises the importance of Rangers FC to its supporters, shareholders and to the wider football industry in Scotland.<\/p>\n

“We are committed to supporting the Board of Rangers FC in their plan to ensure the financial stability of the club.”<\/p>\n<\/p><\/div>\n

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