RBS to push on with sale of branches
At least six private equity and banking suitors – including Yorkshire Bank's owner National Australia Bank – have examined the assets closely and at least three of those have expressed an interest in the branches, meeting an end of January deadline set by the bank.
The deal would hand any buyer a foothold in the UK's competitive business banking market.
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Hide AdThe bank and its advisers are drawing up an information memorandum, due to be sent to suitors later this month. Until now, RBS has sent out only a 'teaser' document, with few financial details.
RBS declined to comment. The sources said Santander, Virgin Money – part of Richard Branson's Virgin group – and buyout firm Resolution were among those that had expressed an interest.