View more on these topics

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.

Recommended

&#39Stakeholder shifts up market to be PP&#39

IFAs and pension providers claim stakeholder is set to become little more than acost-controlled personal pension following recent statements from the Departmentof Social Security and the Treasury.They believe the Government is finally beginning to come clean about its true intentions behind the stakeholder project.Recent declarations by ministers seem to herald a move to shift stakeholder […]

Towry Law says it may sell if the offer is right

Acquisitive National IFA Towry Law is understood to be up for sale.The company says it has not had any direct offers but it would put any approaches before shareholders.Towry, which has a strong presence in the Far East, bought Hogg Robinson&#39s financial services subsidiary Advizas last year and recently acquired national IFA Hambro Fraser Smith […]

Aifa offers bungle-busting service

Aifa is offering itself as an arbitration service between IFAs and product providers at loggerheads over administration blunders.Its proposed new initiative is aimed at improving the relationship between IFAs and providers and comes in the wake of Money Marketing&#39s Bungle Busters which highlights cases of poor administration.Aifa director-general Paul Smee says the MM feature showed […]

Cash-burning dotcoms are on road to crashing

Many internet companies could run out of cash within the next 15 months and one in four may crash within six months.Companies are being warned they will find difficulties funding the second and third phases of business if they have not met high expectations.Research by consultants PricewaterhouseCoopers reveals that 25 of the 28 companies examined […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com