Newspaper article International New York Times

R.B.S. Takes Two Paths to Sale of Branch Network

Newspaper article International New York Times

R.B.S. Takes Two Paths to Sale of Branch Network

Article excerpt

Royal Bank of Scotland had been preparing to spin off the branch network in 2017, but it said it had received informal approaches for the unit.

The Royal Bank of Scotland said on Wednesday that it was considering selling Williams & Glyn, the branch network it had planned to spin off in 2017.

R.B.S., which is based in Edinburgh, said that it had received informal approaches for Williams & Glyn because of the "strategic attractiveness" of the unit.

The lender said that it would continue to prepare for an initial public offering for Williams & Glyn but that it would also begin a sale process in the first half of next year. If it were to sell the business, the bank said, it would want a binding agreement in place by the end of next year and to fully divest itself of the unit by the end of 2017.

"Separating out the Williams & Glyn business is a complex process," Ross McEwan, the R. …

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