RBS agrees to sell RBS (Luxembourg) S.A. to BlackFin Capital Partners
RBS announced that it is selling RBS (Luxembourg) S.A.(“RBSL”), its Luxembourg-domiciled independent management company and funds governance business, to BlackFin Capital Partners, a private equity firm specialised in the financial services sector, for an undisclosed amount.
Laurent Bouyoux, President of BlackFin Capital Partners, commented: “BlackFin is delighted to
become RBSL’s new shareholder alongside its management team. Our common objective is to
capitalise on RBSL’s assets – a highly qualified team, a strong platform and a proven business model – to seize the growth opportunities arising in the asset management industry. BlackFin’s ambition is to position RBSL, for the long term, as the leading European independent player in its market.”
“We are very pleased that BlackFin Capital Partners is buying RBS (Luxembourg) S.A. This is a good outcome for customers and staff, and provides customers with certainty that we will continue to provide a market leading service,” said Revel Wood, Chief Executive Officer of RBSL.
Divesting RBSL is in line with the strategy to make RBS a smaller, more focused bank.
The completion of the deal is subject to approval of the Luxembourg regulator, Commission de
Surveillance du Secteur Financier (“CSSF”), and is expected to complete in the fourth quarter of this year.
PricewaterhouseCoopers Luxembourg and Linklaters LLP are advising RBS. Arendt & Medernach is advising BlackFin Capital Partners.
Posted In
Tagged
Latest news
RBS has today committed to helping 2.5 million people in the UK each year to improve their financial capability.
RBS has executed a £1.1bn securitisation deal with Macquarie Infrastructure Debt Investment Solutions (MIDIS), which will allow the bank to recycle capital and increase lending to the sustainable or renewable energy sectors.
RBS has today announced a new £1 billion in funding through NatWest to support female entrepreneurs in the UK to scale and grow – the largest intervention by a UK lender focused specifically on female-led businesses.