A consortium involving Schroders and Threadneedle has failed in its bid to buy 314 bank branches from RBS after the bank agreed a sale with another bidder.
RBS has agreed a £600m deal for its Williams & Glyn's business banking unit with a consortium led by private equity group Corsair Capital and Centrebridge Partners. That consortium, which also involves the Church Commissioners for England and RIT Capital Partners, will take a minority stake in Williams & Glyn's following the business' public listing in the coming months. "This deal concludes what has been a very competitive process, with several highly credible bidders," said RBS group finance director Bruce Van Saun. Schroders and Threadneedle formed part of a rival consortium of ...
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