Royal Bank of Scotland Group Plc (RBS, RBS.L) said it entered into sale agreement with Aberdeen Asset Management Plc (ADN.L) for the sale of certain fund management assets and contracts of RBS Asset Management Ltd and RBS Asset Management Holdings and into a distribution agreement for certain products between Aberdeen and RBS Wealth Management.
The company noted that the business will be sold for a total consideration of GBP 84.7 million. The divestment is expected to be completed in the first quarter of 2010.
For comments and feedback: editorial@rttnews.com