Lloyds Nears 400 Million-Pound Takeover of Embark Group: Sky

U.K. lender Lloyds Banking Group Plc is in advanced talks about a 400 million-pound ($559 million) takeover of savings and retirement company Embark Group, Sky News reported, citing unidentified sources.

The announcement could come as soon as this month, Sky said.

Embark has more than 38.5 billion pounds under administration and close to 500,000 customers in the U.K., according to its website.

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