Source: The Associated Press

Britain’s Lloyds Banking Group has agreed to sell a controlling stake in its Bank of Scotland Integrated Finance business.

Lloyds said Monday that Coller Capital, a private equity company, is paying 332 million pounds (US$504 million) for a 70% stake in the unit. Lloyds will remain as a minority partner with a 30% stake.

Lloyds, which was bailed out by the British government during the financial crisis, says it has now disposed of 750 million pounds in assets.