LONDON, June 26 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
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)