News in brief: Lloyds attracts TSB approaches, New Sparta buys film distributor Icon, Baker Finsbury on acquisition trail
Lloyds Banking Group is believed to have received interest from several private equity firms, including JC Flowers, for TSB, relaunched as a standalone brand last week.
Lloyds, which is also considering listing it on the London Stock Exchange, said: “We’re progressing towards an IPO of TSB next year but will consider any offers that would provide greater certainty or value to shareholders.”
New Sparta buys film distributor Icon
Icon Film Distribution, the distributor behind hits such as Paranormal Activity, has been acquired by media investor Jerome Booth’s New Sparta for an undisclosed sum from Icon UK.
The sale of IFD, whose forthcoming titles include Postman Pat: The Movie, leaves Icon UK focused on film finance and production. Booth also owns Exaro News.
Baker Finsbury on acquisition trail
Cakes and bread maker Finsbury Foods is eyeing potential acquisitions following the successful sales of its Free From range earlier this year for £21 million.
The sale means the company’s debt has fallen 78% to £7.4 million, allowing it to resume paying a dividend. Adjusted profits before tax jumped 19% to £5.5 million on sales of £176.6 million in the year to end of June.
