CVC to enter sales negotiations with RBS?
It has been reported a £4 million offer has been made by CVC for Royal Bank of Scotland Insurance.
CVC Capital Partners have reportedly made a £4 million offer to take over Royal Bank of Scotland's (RBS's) insurance arm.
According to a Mail on Sunday report, the private equity firm has begun the process of taking over the company, which could see extensive business negotiations taking place.
RBS Insurance has been up for sale since it required a taxpayer-funded bailout in 2008.
According to RBS's books, the firm is worth £4.3 million. After it was initially put up for sale, private equity firms had been excluded from the process, however, this viewpoint has now been changed.
Sales negotiations could now be set to take place as the two groups try to agree on the final terms of a deal.
RBS recently ran an event designed to show how businesses can grow their way out of a recession.
The session focused on how to obtain funding and finance growth in the UK.
Posted by David Gleck
Source: Reuters, City AM, October 30th