Santander Acquires 318 Royal Bank Branches in Uk for Pound(S)1.65bn
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Summary
ROYAL Bank of Scotland is to net pound(s)1.65 billion after agreeing the sale of 318 branches, including the seven NatWest outlets in Scotland, to rival Santander.
Santander will hand over cash of pound(s)350m and pump in an estimated pound(s)1.3bn of capital to support the business. RBS will free up pound(s)1.3bn of its own capital.See the full content of this document
Extract
Santander Acquires 318 Royal Bank Branches in Uk for Pound(S)1.65bn
RBS chief executive Stephen Hester said: "This is an important milestone in our restructuring work and complemen...
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