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The Lloyds chief executive stands to collect more than £2.2m if the shares stay above 73.6p – the price paid by taxpayers for their stake during the 2008 bank bailouts – for 30 consecutive days or if the government sells off a third of its stake above 61p, the price the shares were trading at during the bailouts.
While investors in the special gold-class shares do not pay an additional management fee for their stake in the gold funds, they pay Mr. Paulson 20 percent of any profits.
Ms. Grotkamp, who is 67, is offering the Brosts €470 million for their stake.
Staff and management will get £258m of the cash for their stake, leaving £642m for Charterhouse.
Fitzwilton and Morgan Stanley & Company offered $120 million for their stake in Waterford.
Manchester and Blackpool might yet get something for their stake, in the form of multimillion-pound regeneration packages.
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But a long line of claimants is already jostling for their stakes.
Limited partners will not receive such exalted premiums for their stakes.
They say they have paid two to three times more for their stakes in such start-ups over the past year.
In the next week, the banks are expected to hire outside advisers to help them come up with a fair market value for their stakes.
Rather than pay the government for their stakes, the buyers were required to make investment pledges (worth, in aggregate, $1.7 billion) in the privatised businesses.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com