Aberdeen Asset Management plans to acquire Royal Bank of Scotland’s funds arm, reported Herald Scotland. The deal, which involves parts of wealth management unit, is expected to fetch approximately GBP100m to the Edinburgh-based bank.
The business involves offering investment advice to high net worth clients retained by Coutts & Co, which is owned by RBS. Reportedly, Henderson, Man Group, and BlackRock are also interested to buy the operation, reported the website.
Recently, European Commission (EC) has approved the restructuring plan of Royal Bank of Scotland (RBS). EC is of the opinion that the commitment to exit all non-core and riskier business lines will contribute to reinforcing its capital and liquidity position.
As part of the restructuring plan RBS intends to sell its 51% stake in commodities trading firm RBS-Sempra, which it jointly owns with Sempra Energy. Deutsche Bank, JP Morgan Chase and Macquarie bank are said to be in the race to buy RBS Sempra.
