, India

RBS' Asian assets sale flops

Talks between Standard Chartered PLC and Royal Bank of Scotland Group PLC (RBS) for the sale of RBS' assets in India, China and Malaysia seem to have flopped due to disagreements in pricing, according to a report in the Wall Street Journal.

"Standard Chartered bank was willing to pay $200 million to $250 million for the assets, but they (RBS) were looking for much more," said an inside source. No amount was disclosed on what RBS was expecting.

The person said Standard Chartered had set a deadline of Friday for RBS to respond to its offer, which it had not done yet. He also said chances of the deal happening now were "non-existent." RBS' branch in India refused to comment.

The assets under discussion are part of a group of RBS' Asian businesses that were earmarked for disposal under the strategic plan of Chief Executive Stephen Hester. Many of the Asian businesses were acquired by RBS when it bought part of Dutch bank ABN Amro Holding NV in 2007, a top-of-the-market deal that helped drive RBS to the brink of insolvency.

Follow the link for more news on

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

What is Lorem Ipsum?
What is Lorem Ipsum? Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

Exclusives

Sed molestie interdum dui sit amet egestas
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout.
CIMB Niaga leads the way in captivating Indonesia’s youth
The bank’s digital solutions are winning over younger generations with 3.2M mobile users and 96% digital transaction rate in 2023.