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.
© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.