Financier may target Direct Line and Widows
“They are amongst the businesses that we would consider,” he said yesterday after newspapers reported Tungsten had approached Lloyds and RBS about buying Scottish Widows and Direct Line respectively.
Mr Truell plans to raise an initial tranche of between £100m and £200m from institutional investors in a stock market flotation this month.
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Hide AdRBS is selling its Leeds-based insurance arm to win regulatory approval for a taxpayer-funded bailout it received in 2008, and has said it plans to float the Direct Line business in the second half of the year.
Lloyds has said Scottish Widows, headed by former Aviva executive Toby Strauss, is not for sale.