4th Jan 2010 07:00
THE ROYAL BANK OF SCOTLAND GROUP PLC
The Share Purchase Agreement signed between the Royal Bank of Scotland Group plc and MCB Bank Limited lapses
4 January 2010
On 12 August 2009 The Royal Bank of Scotland Group plc (RBSG) announced that it had reached an agreement in principle for the sale of its 99.37% holding in The Royal Bank of Scotland Limited (RBS Pakistan) to MCB Bank Limited (MCB), (the Transaction). As announced, the Transaction was subject to necessary Regulatory approvals.
The agreement with MCB provided that if the necessary Regulatory approvals are not obtained and closing of the Transaction has not occurred on or by 31 December 2009 then the agreement and the Transaction shall lapse.
The necessary Regulatory approvals were not obtained, and closing did not occur, by 31 December 2009 and accordingly the agreement and the Transaction have now lapsed.
Contacts:
Investor Relations
Richard O'Connor
+44 207 672 1763
+44 7909 873 681
Media Relations
Michael Strachan
+44 131 626 3997
+44 7920 087 902
Related Shares:
RBS.L