logo
Share SHARE
FONT-SIZE Plus   Neg

RBS Agrees To Sell Certain Businesses In Asia Pacific To CIMB - Quick Facts

Royal Bank of Scotland Group plc (RBS.L,RBS) said it has agreed to sell certain businesses in Asia Pacific to Malaysia's CIMB Group Sdn Bhd. The cash consideration, based on net asset values, is expected to be about 75 million pounds.

RBS would sell to CIMB its Cash Equities businesses in Australia, China, Hong Kong, India and Taiwan; including the cash equities sales desks in the US and UK and Equity Capital Markets and Mergers & Acquisition businesses in Australia and China, Hong Kong, India, Indonesia, Malaysia, Singapore, Taiwan and Thailand.

The principal benefit to RBS of the sale is to mitigate partially the shutdown costs otherwise associated with these businesses.

The transaction will complete by jurisdiction with the final completion expected to occur during the fourth quarter of 2012.

Moreover, RBS will work closely with CIMB and existing clients of the sale businesses to ensure a smooth transition of staff, mandates and accounts, to the satisfaction of clients.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Netflix offers a bunch of popular movies, Netflix originals, new TV shows, and documentaries in the month of December 2016, including the second season of the hit sitcom 'Fuller House' and 2016 blockbuster 'Captain America: Civil War', as all are getting ready for the holidays. SpaceX, the space transport company of Tech entrepreneur Elon Musk, is likely to launch its first Falcon 9 rocket since September's launchpad explosion on December 16. SpaceX's satellite launch customer Iridium Communications Inc. announced Thursday that its next-generation global satellite constellation, Iridium NEXT, will be launched on SpaceX's Falcon 9 rocket. Bank holding company Wells Fargo & Co., amid struggles to re-establish itself after the fake-account scandal, on Thursday said it has separated the roles of the Chairman and Chief Executive Officer formally, by amending the company's By-Laws. The amendment is also for the Chairman and Vice Chairman of the Board to be independent directors. The amendments were effective immediately.
comments powered by Disqus
Follow RTT