Assets sell-off for RBS?

11 July 2011

An assets sell-off could be on the cards at Royal Bank of Scotland (RBS), as a financier has intimated he could be interested in taking charge of the bank's aircraft leasing unit.

Guernsey-based investor Guy Hands suggested he is lining up a bid for RBS Aviation Capital, which is believed to be worth around £4 billion.

Mr Hands said he is tempted by the transaction, which would then likely see him merge the organisation with Irish brand Awas - a firm his Terra Firma investment fund already owns.

RBS Aviation Capital had initially been put up for sale in 2009 after the state bailout of RBS, with a planned auction later cancelled due to the aviation industry being hit hard by the recession.

The aviation arm serves around 100 airline customers in 38 countries, with teams based across the globe in cities including Dublin, London, Hong Kong, New York, Beijing and Tokyo.

By Gary Cooper

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