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RBS sells aviation unit to Sumitomo Mitsui

LONDON (MarketWatch)
Royal Bank of Scotland Group PLC on Tuesday announced the sale of its RBS Aviation Capital division to Sumitomo Mitsui Banking Corp. for 4.7 billion pounds ($7.3 billion)
Future order commitments of 2.4 billion pounds will transfer over with the business
The deal is expected to close by the end of the third quarter with the proceeds used to strengthen RBS's core business, reduce wholesale funding requirements and fund ongoing lending
  "Reaching agreement on a deal of this scale in such a volatile market is a significant success for our non-core division and a credit to SMBC," said Bruce Van Saun, RBS group finance director
 "This transaction further evidences our progress in reducing our non-core portfolio and returning the group to a position of strength."
Posted by Unknown at martes, enero 17, 2012

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