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UK's Lloyds Bank sells TSB shares at 280 pence each

Reuters - UK Focus

(Adds price)

Sept 26 (Reuters) - Lloyds Banking Group Plc has sold 161 million pounds ($262.5 million) worth of shares in UK lender TSB at a price of 280 pence a share.

Lloyds said on Friday that it had sold the shares, representing around 11.5 percent of the company's issued share capital, in an accelerated bookbuild.

UBS (NYSEArca: FBGX - news) advised Lloyds on the sale.

($1 = 0.6133 British Pounds) (Reporting by Freya Berry; editing by Matt Scuffham)