RBS portfolio sale to BNP Paribas awaits EC approval
Head of terms for RBS's agreement to sell structured products portfolio has been signed, with EC competition clearance the only outstanding item
Agreement between Royal Bank of Scotland (RBS) and BNP Paribas about the sale of retail structured products was reached on February 19, and only approval from the European Commission's competition directorate now stands between the deal and completion. That approval is expected in the second half of this year. The mandate was first reported by Structured Products on November 14, 2013.
The £15 billion disposal of "certain" assets and liabilities related to RBS's structured retail investor
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