Share Purchase agreement with

RNS Number : 9372E

Royal Bank of Scotland Group PLC

04 January 2010

 



THE ROYAL BANK OF SCOTLAND GROUP PLC

The Share Purchase Agreement signed between the Royal Bank of Scotland Group plc and MCB Bank Limited lapses

4 January 2010

On 12 August 2009 The Royal Bank of Scotland Group plc (RBSG) announced that it had reached an agreement in principle for the sale of its 99.37% holding in The Royal Bank of Scotland Limited (RBS Pakistan) to MCB Bank Limited (MCB), (the Transaction). As announced, the Transaction was subject to necessary Regulatory approvals. 

The agreement with MCB provided that if the necessary Regulatory approvals are not obtained and closing of the Transaction has not occurred on or by 31 December 2009 then the agreement and the Transaction shall lapse. 

The necessary Regulatory approvals were not obtained, and closing did not occur, by 31 December 2009 and accordingly the agreement and the Transaction have now lapsed. 

Contacts:

Investor Relations

Richard O'Connor            

[phone]

[phone]

Media Relations

Michael Strachan

[phone]

[phone]

 

END

 

 

MSCLIFVRLEISIII