RBS agrees sale of Spanish real estate assets to Perella Weinberg
The Royal Bank of Scotland Group plc ("RBS") announces today that it has sold a portfolio of its commercial real estate loans and assets in Spain to several wholly owned, indirect SPV subsidiaries of Perella Weinberg Real Estate Fund I LP (specifically, Grey Grafton S.A R.L, Violet Grafton S.A R.L. and Orange Grafton S.A R.L.).
23 March 2011
The portfolio has a par value of €286 million. The proceeds from the transaction are in cash.
The disposal represents a further step in RBS’s plan to run off or dispose of the assets within the Non-Core Division. By 31 December 2010, overall funded assets in Non-Core had reduced to £138 bn from the original funded asset base of £258 bn.
RBS was advised on the sale by its Global Banking and Markets division.
Richard O'Connor Head of Investor Relations +44 (0) 20 7672 1758
Media Relations Tel: +44 (0) 131 523 4205
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