RBS agrees to sell Priory Group to Advent International

Royal Bank of Scotland has agreed to sell care homes operator Priory Group to buyout firm Advent International for up to £925 million, in a further step in the bank's disposal of non-core assets.

RBS said on Tuesday it would receive up to 133 million in cash after the settlement of debt for its stake in the group, which operates more than 50 hospitals, schools and care homes, and is noted for its celebrity clientele.