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Report: RBS looking to sell Ulster to P-E firm

  • The Royal Bank of Scotland (NYSE:RBS) is looking to retreat from Ireland as it considers selling Ulster Bank to a private equity firm, Reuters reports quoting the Irish Examiner.
  • The newspaper mentions that private equity firms KKR (NYSE:KKR) or Apollo (NYSE:APO) would be the most likely candidates to buy the bank.
  • The sale is dependent on the stipulations involving Ulster's distressed assets, but a price of $673M-$3.4B is expected.
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