Dec. 8, 2014, 5:46 AM
- Royal Bank of Scotland (NYSE:RBS) has officially launched the sale of private bank Coutts International and has invited at least 10 potential suitors, including Credit Suisse (NYSE:CS), Julius Baer (OTCPK:JBAXY) and Malayan Banking Berhad (OTCPK:MLYBY) to participate in the auction.
- First-round bids are due before Christmas, with a sale expected to fetch about $1B.
- The sale of Coutts will help RBS, which is owned by the British government, to focus on domestic lending.
- Previously: RBS looking to offload Coutts International (Aug. 11 2014)
Apr. 15, 2013, 3:28 AMING (ING) reportedly intends to launch the sale of its 31% stake in Thailand's TMB Bank (TMBBY.OB) after the county's election on May 5. The Dutch firm is waiting until after the poll in the hope that it can induce Malaysia's two dominant banks - CIMB Group (CIMDF.OB) and Malayan Banking (MLYBY.PK), to bid for the stake, whose value of $1.2B is well above the €460M that ING paid for it in 2007. ING has been selling assets around the world in order to repay a bailout. | Comment!
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