19th Aug 2015 05:36
LONDON (Alliance News) - The Royal Bank of Scotland Group PLC has struck a deal to sell its Luxembourg-based fund arm to private equity house Blackfin Capital Partners, the Financial Times reported.
The sale of the fund governance business, called RBSL, for an undisclosed amount is at a significant premium to book value, the FT said, citing one source familiar with the situation.
The deal is part of the ongoing restructuring plan RBS is undertaking under Chief Executive Ross McEwan as he pushes the bank to focus on its UK retail and commercial banking operations.
https://next.ft.com/a34aa68c-45bc-11e5-af2f-4d6e0e5eda22
By Sam Unsted; [email protected]; @SamUAtAlliance
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