Provider: Zacks Investment Research Inc.
Banco Santander SA Updates On Sale Of 300 Branches Of Royal Bank of Scotland Group plc To Santander UK
Banco Santander SA announced that the agreement for the sale by The Royal Bank of Scotland Group plc (RBS) to Santander UK of approximately 300 branches of RBS in England and Wales and NatWest in Scotland (the Business) (disclosed by means of material fact released on August 4, 2010) will not complete in view of the foreseeable lack of satisfaction of the conditions it was subject to by the agreed final deadline of February 2013. The agreement reached in August 2010 between Santander UK and RBS for Santander UK to acquire the Business was originally scheduled to complete by end 2011. In August 2011, this was extended to a new target completion date of Q4 2012. However, given the delays, Santander UK has concluded that it is not possible to complete this within a reasonable period.
Latest Developments for Royal Bank of Scotland Group PLC
- Royal Bank of Scotland Group PLC investigated in New York currency trading probe-Reuters
- Royal Bank of Scotland Group PLC announces $2 billion T2 Notes transaction
- Royal Bank of Scotland Group PLC ends 8 bln stg capital back-up with UK government-reuters
- Royal Bank of Scotland Group PLC reaches settlement with US authorities regarding OFAC compliance
- Share this
- Digg this