Tags: EU | Britain | Royal | Bank | of | Scotland

Royal Bank of Scotland to Sell $6.1 Billion Worth of Businesses

Monday, 15 Nov 2010 09:31 AM


Part-nationalized Royal Bank of Scotland says it plans to sell 3.8 billion pounds ($6.1 billion) worth of project finance assets to The Bank of Tokyo-Mitsubishi UFJ.

The bank said Monday that it had signed a nonbinding morandum of understanding for the sale.

RBS says the project finance assets involve power, oil and gas, and infrastructure assets in Britain, Europe, the Middle East and Asia-Pacific.

RBS is disposing of non-core assets as it works toward returning to private ownership. The government now holds a stake of about 80 percent in the bank.

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