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UK's RBS to decide on branch sale plan in July - sources
June 28, 2013 / 2:47 PM / 4 years ago

UK's RBS to decide on branch sale plan in July - sources

LONDON, June 28 (Reuters) - Royal Bank of Scotland will make a decision on how to offload hundreds of British branches it has been ordered to sell by European regulators in the next month, industry sources told Reuters on Friday.

RBS is considering proposals from three sets of investors for 315 branches.

One consortium is led by private equity firms Centerbridge and Corsair and has backing from the Church of England’s investment fund, while another comprises several of Britain’s biggest investment firms and is led by former Tesco finance director, Andy Higginson.

A third proposal has been submitted by British private equity firm Anacap Financial Partners, in conjunction with U.S. private equity group, Blackstone. RBS could also pursue a stock market flotation of the branches on its own without having additional investors on board, the sources said.

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