Tags: EU | Britain | Royal | Bank | of | Scotland

Royal Bank of Scotland to Sell $6.1 Billion Worth of Businesses

Monday, 15 Nov 2010 09:31 AM


Part-nationalized Royal Bank of Scotland says it plans to sell 3.8 billion pounds ($6.1 billion) worth of project finance assets to The Bank of Tokyo-Mitsubishi UFJ.

The bank said Monday that it had signed a nonbinding morandum of understanding for the sale.

RBS says the project finance assets involve power, oil and gas, and infrastructure assets in Britain, Europe, the Middle East and Asia-Pacific.

RBS is disposing of non-core assets as it works toward returning to private ownership. The government now holds a stake of about 80 percent in the bank.

© Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

1Like our page

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

© Newsmax Media, Inc.
All Rights Reserved