WSJ – Royal Bank of Scotland Group PLC (RBS) said Friday that it has agreed to sell part of its asset management business to Aberdeen Asset Management PLC (ADN.LN) for GBP84.7 million, marking the latest step in a restructuring plan launched last year after RBS was bailed out by the U.K. government.
The deal involves the Investment Strategies funds of funds division of RBS Asset Management, which had assets under management worth GBP13.5 billion at the end of September. RBS said the sale should be completed in the first quarter this year.
