The Banking and Strategy Initiative

Chillin' out till it needs to be funded

RBS says good interest in Asia assets for sale | Deals | Reuters

Part-nationalized Royal Bank of Scotland RBS.L has received good interest from potential buyers for its Asian assets, its chief executive said on Friday.

“Were seeing good levels of interest, but it would be premature to declare victory with respect to price or executability,” RBS Chief Executive Stephen Hester told reporters after a shareholder meeting.

“Were in the process of working through expressions of interest, but were not at the stage where bids you can rely on are being called for,” he said.

RBS asked potential bidders to register their interest by April 1, Reuters reported last month, citing people familiar with the matter.

RBS is retrenching to its core businesses and plans to exit or significantly scale back in up to 36 of the countries where it operates globally.

HSBC HSBA.L0005.HK, Standard Chartered STAN.L2888.HK and Australia and New Zealand Banking Group ANZ ANZ.AX are all considering bids for the Asian assets, separate sources with direct knowledge of the matter have previously told Reuters.

All of the assets in the region could fetch around $2 billion, although RBS is also considering offers for assets in individual countries, sources have said.


RBS says good interest in Asia assets for sale

| Deals

| Reuters



This entry was posted on April 15, 2009 by in India, US and tagged , , , , , , , , .


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