RBS close to offloading toxic property loans -paper
LONDON, June 26
LONDON, June 26 (Reuters) - Royal Bank of Scotland is close to reaching a deal to offload 1.6 billion pounds ($2.6 billion) of toxic property loans, The Sunday Times said in an unsourced report.
The report added RBS would join with either Blackstone or Lone Star private equity firms to manage the portfolio.
A spokeswoman for RBS declined to comment on the report.
RBS, 83 percent by the British government after a state bailout during the credit crisis, has sold portfolios of non-core property assets to bolster its balance sheet.
In March, it sold a 286 million euro($410 million) portfolio of Spanish real estate loans to Perella Weinberg. ($1 = 0.618 British Pounds) ($1 = 0.698 Euros) (Reporting by Sudip Kar-Gupta)
- Gaza toll passes 100; Israel to counter rockets 'with all power' |
- Mexican train derails, stranding 1,300 migrants headed toward U.S.
- Ukraine says rebels will pay as missiles kill 23 soldiers |
- Texas mass murder suspect collapses in court as crime recounted
- British 'Harry Potter' actor David Legeno found dead in U.S. park