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RBS sells NatWest assets

The Royal Bank of Scotland has sold the interests in a number of unlisted companies it acquired when it purchased National Westminster Bank.

They were sold to a consortium of private investors led by the private equity firm Coller Capital for £670m.

Included in the deal, Coller will also take on a further £148m of unfounded assets in the portfolio, making it the largest ever placing of a portfolio of private equity interests.

The portfolio had been managed by NatWest Equity Partners, the bank’s private equity arm.

The consortium of investors is made up of three syndicates advised by Coller Capital, Hamilton Lane Advisers and Lexington Partners.

RBS is expected to continue stripping NatWest of its assets when it likely sells a 50 per cent stake in Royal Scottish Assurance to CGU for £150m, and then a chunk of NatWest Life for an undisclosed sum.

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