SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
19 July 2004
LLOYDS TSB GROUP plc
(Translation of registrant's name into English)
5th Floor
25 Gresham Street
London
EC2V 7HN
United Kingdom
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.
Form 20-F..X..Form 40-F.....
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes .....No ..X..
If "Yes" is marked, indicate below the file number
assigned to the registrant in connection with Rule
12g3-2(b): 82- ________
Index to Exhibits
Item
No. 1 Regulatory News Service Announcement, dated 19 July 2004
re: Disposal
119/04 19 July 2004
LLOYDS TSB ANNOUNCES SALE OF BUSINESSES IN ARGENTINA AND COLOMBIA
Lloyds TSB Group has today announced the sale of businesses in Argentina and
Colombia. The sales continue the process started last year with the sale of The
National Bank of New Zealand and the Group's operations in Brazil, and will
allow the Group to concentrate on its core franchises.
Lloyds TSB Group has agreed the transfer by its wholly owned subsidiary, Lloyds
TSB Bank plc, of the business of its branch in Argentina, to Banco Patagonia
Sudameris S.A. At 30 June 2004 the net assets to be transferred, as consolidated
in the Group balance sheet, totalled approximately GBP8 million.
The Group has also agreed the sale of its principal businesses in Colombia
comprising its interests in Lloyds TSB Bank S.A. and in Lloyds Trust S.A. and
certain offshore assets, to Primer Banco del Istmo, S.A. At 30 June 2004 the
net assets of the businesses and the offshore assets to be sold totalled
approximately GBP34 million.
The transfers are subject to approval by the relevant regulatory authorities.
Some GBP13 million of goodwill relating to the earlier acquisition of minority
shares in the Colombian business is being written-off in the Lloyds TSB Group
profit and loss account for the half-year to 30 June 2004. Upon completion, the
net impact of the disposals to be recognised in the Group profit and loss
account is not expected to be material.
Eric Daniels, Lloyds TSB Group Chief Executive, said:
"These transactions will further focus the Group on its main franchises, where
we believe there are significant opportunities for growth."
- ends -
..../more
For further information:
Investor Relations
Michael Oliver +44 (0) 20 7356 2167
Director of Investor Relations
E-mail: michael.oliver@ltsb-finance.co.uk
Ian Gordon +44 (0) 20 7356 1264
Senior Manager, Investor Relations
E-mail: ian.gordon@ltsb-finance.co.uk
Media
Terrence Collis +44 (0) 20 7356 2078
Director of Group Corporate Communications
E-mail: terrence.collis@lloydstsb.co.uk
Mary Walsh +44 (0) 20 7356 2121
Head of Media Relations
E-mail: mary.walsh@lloydstsb.co.uk
FORWARD LOOKING STATEMENTS
This announcement contains forward looking statements with respect to the
business, strategy and plans of the Lloyds TSB Group, its current goals and
expectations relating to its future financial condition and performance. By
their nature, forward looking statements involve risk and uncertainty because
they relate to events and depend on circumstances that will occur in the future.
Lloyds TSB Group's actual future results may differ materially from the
results expressed or implied in these forward looking statements as a result of
a variety of factors, including UK domestic and global economic and business
conditions, risks concerning borrower credit quality, market related risks such
as interest rate risk and exchange rate risk in its banking business and equity
risk in its insurance businesses, changing demographic trends, unexpected
changes to regulation or regulatory actions, changes in customer preferences,
competition and other factors. Please refer to the latest Annual Report on Form
20-F of Lloyds TSB Group filed with the US Securities and Exchange Commission
for a discussion of such factors.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
LLOYDS TSB GROUP plc
(Registrant)
By: M D Oliver
Name: M D Oliver
Title: Director of Investor Relations
Date: 19 July 2004