Sale of Non-Core Project Fina

RNS Number : 1637Y

Royal Bank of Scotland Group PLC

17 December 2010

 



Royal Bank of Scotland Group PLC - Sale of Non-Core Project Finance Assets to BTMU

The Royal Bank of Scotland Group plc

RBS agrees sale of Non-Core Project Finance assets to The Bank of Tokyo-Mitsubishi UFJ, Ltd.

The Royal Bank of Scotland Group plc (RBS) announces today it has reached final legal agreement for the sale of a Non-Core portfolio of approximately £3.9bn Project Finance assets and associated derivatives to The Bank of Tokyo-Mitsubishi UFJ, Ltd (BTMU) and other subsidiaries of Mitsubishi UFJ Financial Group (MUFG).

The portfolio is made up of global power, global oil & gas and infrastructure assets in the UK, EMEA, APAC and the Middle East.

This sale marks further progress in the execution of the asset reduction element of RBS' strategic plan announced in February 2009. RBS continues to talk with BTMU about the potential sale of other Non-Core Project Finance assets.

Contacts

Richard O'Connor

Investor Relations

[phone]

Group Media Centre

Tel: [phone]

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