Deals
RBS Said to Receive Interest for 2016 Sale of Consumer Bank
- Bank continues to prepare for IPO of consumer unit next year
- EU rules say RBS must exit unit by year-end 2017 after bailout
RBS CEO Outlines Targets and Challenges Facing Bank
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Royal Bank of Scotland Group Plc has been approached by bidders for Williams & Glyn and is weighing the option of selling the consumer business instead of holding an initial public offering next year, according to two people with knowledge of the plans.
British and European banks have signaled interest in the unit that could be valued at about 1.5 billion pounds ($2.3 billion), said one of the people, who asked not to be identified because the deal is private. RBS, which previously said it plans to start Williams & Glyn next year, is continuing to prepare for an IPO in the fourth quarter while considering any offers, the people said.