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Corsair in pole position to buy RBS branches

20 Sep 2013

pound_coin_macro_170sqA consortium led by private equity firm Corsair Capital is reportedly in pole position to acquire 315 branches being sold by Royal Bank of Scotland.

RBS has not made a final decision and is still considering rival offers from a Blackstone-led consortium and from W&G Investments, said Reuters, citing three sources with knowledge of the deal.

Last month W&G investments said its proposed acquisition could be delayed beyond its two year schedule.

“It is possible that separation will not be achieved within the two-year period currently contemplated by RBSG,” the company said in a regulatory filing.

RBS was due to sell the branches to Santander for £1.65bn, but the deal fell through last year. RBS has been ordered to sell the branches by EU regulators as part of its bailout deal with the UK government.

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