Royal Bank of Scotland seals Asian deal with ANZ (Dealscape

Royal Bank of Scotland Group plc on Tuesday found a home for a major tranche of the assets it is selling, securing a $550 million agreement with Australia and New Zealand Banking Group Ltd.

The deal is part of a massive retrenchment at the U.K. bank, 70% state-owned after a government bailout. It also testifies to the new-found power of Australian banks in the wake of the global financial crisis, as their conservative banking practices have enabled them to become opportunistic buyers of financial assets.

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NOT A SUBSCRIBER? Royal Bank of Scotland seals Asian deal with ANZ Posted on August 4, 2009 1:35 PM Royal Bank of Scotland Group plc on Tuesday found a home for a major tranche of the assets it is selling, securing a $550 million agreement with Australia and New Zealand Banking Group Ltd. The deal is part of a massive retrenchment at the U.K. bank, 70% state-owned after a government bailout. It also testifies to the new-found power of Australian banks in the wake of the global financial crisis, as their conservative banking practices have enabled them to become opportunistic buyers of financial assets. This is a free content preview. Subscribers enjoy access to all stories in full as well as second-to-none market intelligence. Dig deeper, with Pipeline. 945 in-depth reports of M&A deals in the Financial Services sector 123 in-depth transaction records for Royal Bank of Scotland 60 company pages related to Scotland 11 in-depth transaction records for Australia and New Zealand Banking Group 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Deutsche Bank Birds Eye Cadbury AG Agrium Inc. Skadden Arps Revolution Money Tandberg ASA Aisling Capital Ken Lewis Natco		EXISTING USERS Username Password Forget your password? Missing a product?

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