According to the Financial Times, which cited unnamed sources, the financial services provider is believed to be the favourite out of potential bidders to purchase the gas and power unit belonging to the North American-based RBS business.
JPMorgan Chase acquired the oils, metals, coal and European power part of the firm earlier in the year for $1.6 billion.
A spokesman for RBS told the newspaper: âA number of parties have expressed interest in acquiring the remaining assets of our RBS Sempra Commodities joint venture.â
Franceâs financial services provider Societe Generale is also thought to be among those parties interested in purchasing the unit.
Neither of the two banks have issued a comment in relation to the FTâs report.
RBS recently announced the sale of Sempra Commodities business to Noble Americas Gas and Power Corporation for an estimated $317 million.
The deal also involved the acquisition of $265 million worth of debt as part of the transaction.
By Jim Ottewill