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Royal Bank of Scotland Group PLC Plans Direct Line Insurance Group PLC IPO Launch-Reuters


Tuesday, 11 Sep 2012 12:36pm EDT 

Reuters reported that Royal Bank of Scotland Group PLC will announce on September 13, 2012 its formal intention to float its Direct Line Insurance Group PLC unit on the London Stock Exchange. Analysts say the initial public offering could value Direct Line at over GBP3 billion ($4.8 billion). RBS declined to comment on the timing of the announcement.